____________________ relate to the size and quality of a corporation’s local market.
a. Factor conditions
b. Demand conditions
c. Demand conditions
d. Resource pockets
b. Demand conditions
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A typical operations costing system for a manufacturer incorporates parts of both job order costing and process costing
Indicate whether the statement is true or false
Which of the following costs is least likely to be relevant in deciding whether to accept a special order?
A) Variable direct labor costs B) Variable selling costs C) Fixed manufacturing overhead D) Variable packaging and shipping costs
Preemption of state law when it directly conflicts with federal law is known as __________ preemption, whereas preemption of state law when Congress has manifested intent to regulate an entire area without state participation is known as __________ preemption
a. absolute; implied b. express; absolute c. express; field d. absolute; field
Spontaneous liabilities such as accounts payable and notes payable represent a source of financing that arise from the normal course of business
Indicate whether the statement is true or false