When direct labor costs are recorded in a job costing:
A. Cost of Goods Manufactured is debited and Direct Labor is credited.
B. Direct Labor and Indirect Labor are debited and Factory Wages Payable is credited.
C. Work in Process Inventory is debited and Factory Overhead is credited.
D. Work in Process Inventory is debited and Factory Wages Payable is credited.
E. Factory Wages Payable is debited and Work in Process Inventory is credited.
Answer: D
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Investments in debt securities that the investor intends to hold for a short time and that are purchased in an attempt to profit from near-term price changes are classified as:
A. trading securities. B. adjusted historical cost securities. C. fair value securities. D. available-for-sale securities.
Bond issue costs are reported on the financial statements as
A) Other Assets. B) a reduction to Premium on Bonds Payable. C) Deferred Liabilities. D) an addition to Discount on Bonds Payable.
The ______ is the relationship between two or more tasks that requires certain tasks to be done before others.
A. least priority relationship B. precedence relationship C. factor rating D. contingency relationship
Which of the following would be considered a stationary source of air pollution?
A) aircrafts B) oil rigs C) cargo ships D) automobiles