The allocation of general overhead control costs to operating departments can be least justified in determining
a. income of a product or functional unit.
b. costs for making management's decisions.
c. costs of products sold.
d. costs for government's "cost-plus" contracts.
B
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Which of the following statements does not describe the benefits of utilizing distribution centers over direct store delivery?
A. The effects of forecast error for the individual stores are minimized and less backup inventory is needed to prevent stockouts. B. The use of distribution centers increases inventory investment. C. It is easier to avoid running out of stock or having too much stock in any particular store because merchandise is ordered from the distribution center as needed. D. More accurate sales forecasts are possible when retailers combine forecasts for many stores serviced by one distribution center rather than doing a forecast for each store. E. Distribution centers enable the retailer to carry less merchandise in the individual stores.
Automated teller machines (ATMs) are used primarily by businesses rather than by consumers
Indicate whether the statement is true or false
Prior period adjustments? ________.
A) always increase the beginning balance of retained earnings B) are shown on the statement of retained earnings as corrections to the beginning balance C) can be ignored because the financial statements have already been issued D) must be recorded in the period in which the error occurred
Fred and Vinny work at Leo's Used Car Lot. Fred dislikes Vinny, makes insults about Vinny's Iranian heritage, and treats him badly. Leo has heard the insults but does not reprimand Fred because Leo thinks Fred is right. Leo's actions are:
a. legal because Vinny is a U.S. citizen b. discriminatory under Title VII c. legal because Leo and Fred have a rational basis for their beliefs d. legal because Iranian-Americans are not protected by Title VII e. legal; Fred is the one guilty of discrimination