Answer the following statements true (T) or false (F)
1. In a manufacturing company, wages and benefits of assembly line workers are period costs.
2. In a manufacturing company,
3. In a manufacturing company, wages and benefits of factory managers are treated as product costs.
4. Product costs, such as direct materials costs, are expensed in the period they are incurred.
5. The three categories of period costs are direct materials, direct labor, and manufacturing overhead.
1. FALSE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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Based on GAAP, most software development costs are likely to be
A) expensed as R&D costs. B) allocated to inventory and expensed to cost of goods sold when the software is sold. C) capitalized and amortized over a 40-year period. D) capitalized and amortized over a relatively short period, such as five years.
The Economic Espionage Act of 1996 defines theft of trade secrets to include:
a. stealing, obtaining by fraud, or concealing such information. b. without authorization copying or mailing such information. c. purchasing or possessing a trade secret with knowledge that it has been stolen. d. All of these.
Suki is a registered agent for Trans-state Trucking, Inc. (TTI), which incorporated in Utah. As a registered agent, Suki
A. agreed to buy stock in TTI before it existed. B. applied to Utah on behalf of TTI to obtain its corporate charter. C. does business for TTI in Utah. D. receives legal documents on behalf of TTI.
Any employee, group of employees, or labor organization can file a petition seeking a representation election or a decertification election on behalf of the employees as a whole.?
Indicate whether the statement is true or false