Prime costs consist of
a. direct materials and overhead.
b. direct labor and overhead.
c. direct labor and indirect labor.
d. direct materials and direct labor.
D
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Motor Sales sold its old office furniture for $6000. The original cost was $16,000, and at the time of sale, accumulated depreciation was $14,000. What is the effect of this transaction?
A) gain of $6000 B) gain of $4000 C) loss of $4000 D) loss of $6000
A reseller advertising a manufacturer's products is viewed as strong manufacturer support.
Answer the following statement true (T) or false (F)
An ____________________ is someone who organizes the resources, takes the risks, and receives the profits from a new business.
Fill in the blank(s) with the appropriate word(s).
Which of the following policies helps keep a corporate officer from being sued for honest mistakes made on behalf of a corporation?
A. the duty of loyalty B. the duty of obedience C. the business judgment rule D. self-dealing