Answer: Partial performance
Explanation:
- Partial performance is described as the completion of a job that forms a portion of a contract.
Here, the seller agrees to paint the house before conveying the house to the buyer. The weather changes, and the seller is unable to finish painting the house before closing.
This indicates a part of job is done.
Hence, this is an example of <u>partial performance.</u>
The answer is letter c. The foremost concern with the source documents of job cost records is the accuracy of the records. Problems happening in this area consist of incorrect recording of quantity or dollar amounts, materials recorded on one job being “borrowed” and used on other jobs, and erroneous job numbers being assigned to materials or labor inputs. The main advantages of using computerized source documents for job cost records are the accurateness of the records and the capability to offer managers with immediate feedback to help control job costs.
Rent, expenses made by office, telephone expenses, administrative salaries are the items that fall under indirect cost.
Explanation:
Indirect costs are those cost which are not accountable directly. Indirect cost can be either variable or fixed. Indirect cost are also known as overhead expenses.
Rent can act as both direct as well as indirect cost. If rent is given for the plant as well as machinery for a company which is use by manufacturing units directly fall under direct cost but in other way when the rent is given for various official purposes it will fall under indirect cost.
