The difference between the value that an activity generates and the cost of the activity is called margin.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Define communications in a sales context.
What will be an ideal response?
Overhead has been underapplied when the
a. Overhead account has a credit balance. b. Overhead account has a debit balance. c. company has overspent in the overhead cost area. d. adjusting entry to account for the underapplied overhead involves a credit to Cost of Goods Sold.
Unearned revenues are generally:
A. Liabilities created when a customer pays in advance for products or services before the revenue is earned. B. Revenues that have been earned but not yet collected in cash. C. Revenues that have been earned and received in cash. D. Increases to common stock. E. Recorded as an asset in the accounting records.
Overseas Corporation (OC), a U.S. firm, orally agrees to sell six freezers to Pisa Pizza, Ltd., in Italy. OC fails to deliver. Under the CISG, Pisa Pizza can
A. enforce the agreement. B. not enforce the agreement because it is not in writing. C. not enforce the agreement because the price term is not specified. D. not enforce the agreement because there is no consideration.