A woman applies for credit from a department store. Which of the following information is legal for the department store to consider in deciding if it should give credit?
a. that her former husband ran up a large unpaid bills b. that she is pregnant
c. that she receives Food Stamps
d. that she had six credit cards canceled for non-payment e. all of the other choices are illegal to consider
d
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When the seller has agreed to deliver the goods to the buyer at the place the buyer names in the country of import, with all costs, including duties paid is referred to as:
A) DDP. B) FCA. C) FAS. D) FOB. E) CIF.
Consider the statements that follow.1. Variable selling costs are expensed when incurred.2. The income statement discloses a company's contribution margin.3. Fixed manufacturing overhead is attached to each unit produced.4. Direct labor becomes part of a unit's cost.5. Sales revenue minus cost of goods sold equals contribution margin.6. This method must be used for external financial reporting.7. Fixed selling and administrative expenses are treated in the same manner as fixed manufacturing overhead.8. This method is sometimes called full costing.9. This method requires the calculation of a fixed manufacturing cost per unit.Required: Determine which of the nine statements: A. Relate only to absorption costing.B. Relate only to variable costing.C. Relate to both absorption costing and
variable costing.D. Relate to neither absorption costing nor variable costing. What will be an ideal response?
What is knowledge?
A. Raw facts that describe the characteristics of an event or object. B. Skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources. C. Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making. D. Data converted into a meaningful and useful context.
A cost management system should provide information to
a. all functional areas of the organization. b. only the accounting area of the organization. c. only the production area of the organization. d. organizational managers, but not to staff personnel.