Discuss the difference between direct measurement and indirect measurement. Give examples of each in an accounting context.
What will be an ideal response?
ANSWER:
A direct measurement of a property is an actual measurement of the property. An indirect measurement is one that must be made by roundabout means. Direct measurements are generally preferable to indirect measures. A direct measurement of replacement cost for an item of ending inventory would be the current wholesale price (the actual price for which it could be currently purchased). An example of an indirect measurement would be an estimate of the replacement cost based on a combination of factors such as original cost, condition, estimated current selling price, and normal markup.
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If fixed costs increase, the break-even point in units will
A) increase B) decrease C) remain the same D) remain the same; however, contribution per unit will decrease
In developing marketing strategies, why is price often the most challenging of the four Ps to manage?
A. because most managers feel it is the least important element of the marketing mix B. because managers don't understand the relationship between benefits and costs C. because it is difficult to calculate markups for products D. because it is the least understood element of the marketing mix E. because it has to be based on the promotion budget for the product
Typical data collected for a job analysis would not include relationships with suppliers and customers.
Answer the following statement true (T) or false (F)
Human-assisted ____________________ procedures are required in many applications to deal with error rates of OCR technology
Fill in the blank(s) with correct word