An 80% learning curve means that with each unit increase in production, labor requirements fall by 20%
Indicate whether the statement is true or false
FALSE
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In a process cost system, the cost attributable to abnormal losses that occur due to unexpected circumstances such as machine operator error should be assigned to:
a. Ending work in process inventory. b. Cost of goods manufactured and ending work in process inventory in the ratio of units worked on during the period to units remaining in work in process inventory. c. A separate loss account in order to highlight production inefficiencies d. Cost of good manufactured (transferred out)
A cereal maker that advertises its products as "the one that will make you smile" is using an exaggerated claim, not puffery
Indicate whether the statement is true or false
Some constitutional protections apply to business entities
Indicate whether the statement is true or false
DRIPs (dividend reinvestment plans) generally have few or no transaction costs
Indicate whether the statement is true or false.