In a job-shop process, processing requirements are different for each product because they ______.
A. contribute to economies of scale in production
B. produce unique products in low volumes
C. contribute to economies of scope in production
D. facilitate continuous production
B. produce unique products in low volumes
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The purchases journal includes the following column(s):
a. Purchases Debit. b. All of the answers listed c. Accounts Payable Debit. d. Freight In Credit.
Answer the following statements true (T) or false (F)
1.When one’s actions hurt us, we only experience that hurt in our minds. 2.Learning to forgive yourself is as important as learning to forgive others. 3.Men assume trust and rarely discuss it. 4.If we believe we can easily find another person to give us whatever a current partner is not providing, we are less likely to extricate ourselves from an unsatisfactory relationship and enter a new and potentially more rewarding one. 5.When online, not only do we display higher rates of trust, we also more readily share our personal information.
The principle of lower of cost or market and the potential obsolescence of inventory are a concern for the audit team because of which of the following?
a. They are uncommon and may not exist. b. They are a burden to the auditor in the undue amount of work caused. c. They are likely to occur in the last month of the year and cause cutoff problems. d. They are an inherent component of complexity related to valuation.
Indicate whether each of the following statements is true or false.Cost accumulation refers to identifying whether a particular cost is fixed or variable. Cost objects may be departments, sales territories, or individual products. Cost accumulation is not useful in a service-type business. An allocation rate has a cause-and-effect relationship with a cost object. Timeliness of managerial accounting information is more important than its precision.
What will be an ideal response?