To a part-time entrepreneur pricing is very important. Which of the following statements about pricing and costing is not true?
A. Pricing is often seen as a challenge by part-time businesses.
B. People working part time can be prone to underestimate their costs.
C. A good way to get a realistic idea of pricing your product is to price competitors' products.
D. Central to figuring the real cost of your product is keeping good records.
Answer: D
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When a market reaches the maturity stage ________
A) gains in volume can be achieved only with gains in market share B) the volume is derived from both market demand and market share C) declining volumes are avoidable D) rate of growth increases E) the net marketing contribution is negative
IFRS allows for alternative performance measures to be presented in the income statement that are not allowed by U.S. GAAP
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. Indirect labor costs might include the salary of the production manager. 2. Product costs, such as manufacturing overhead, should be treated as an asset in an inventory account until the product is sold. 3. Manufacturing overhead includes all manufacturing costs, such as direct labor and direct materials. 4. Manufacturing overhead includes indirect manufacturing costs, such as insurance and depreciation on the factory building. 5. All costs incurred in the manufacture of completed products are product costs.
What is the preapproach?
What will be an ideal response?