In Stage 2 of ABC allocation:
A) cost drivers are determined and costs are traced to each activity.
B) activities are identified.
C) predetermined overhead rates are calculated.
D) equivalent units are computed.
A
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The price at which a share of capital stock may be purchased or sold on the open market is described as its par value
a. True b. False Indicate whether the statement is true or false
The correct order of the three stages of accounting is
a. communication, processing, and measurement. b. measurement, communication, and processing. c. processing, measurement, and communication. d. measurement, processing, and communication.
Answer the following statement(s) true (T) or false (F)
1. The sole purpose of the FDIC is to provide security in the banking system by insuring each depositor’s account for up to $100,000. 2. Any commercial bank that is a member of the Federal Reserve System must also subscribe to the FDIC. 3. The NCUA is similar to the FDIC in that it insures deposits in federally chartered credit unions. 4. Ever since the Great Depression, the trend in banking has been toward more and more federal regulation. 5. The Federal Reserve System was established by the National Banking Act of 1863.
Which of the following is NOT included in calculating the cost of quality?
a. activities to prevent poor quality b. activities to measure quality c. activities to fix poor quality d. activities to fix price