Sturbridge Company manufactures fine furniture and grandfather clocks. Sturbridge has an excellent reputation, and each grandfather clock sells for several thousand dollars. Which of the following should not be treated as direct costs, assuming the cost object is individual clocks?
A. The clock face
B. Wood
C. Depreciation on clock-making equipment
D. The timing mechanism for each clock
Answer: C
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Systems development is separated from data processing activities because failure to do so
a. weakens database access security b. allows programmers access to make unauthorized changes to applications during execution c. results in inadequate documentation d. results in master files being inadvertently erased
A good marketing manager knows that
A. modern technology affects the speed of fashion change. B. a fashion is the currently accepted or popular style. C. the faster fashions change, the harder marketing strategy planning is. D. a fad is even more short-lived than a fashion. E. All these answers are correct.
Which of the following is characteristic of a bailment?
A) There is a separation of ownership and possession B) A bailment must be a contract C) It must last for an indefinite time D) It must be for the benefit of both parties.
List and briefly describe the seven key characteristics that must be present for a contract to be enforceable.
What will be an ideal response?