Answer:A
Explanation:When supply of a product goes up, the price of a product goes down and demand for the product can rise because it costs less.
Answer:
D. Treated as a loss in the period incurred.
Explanation:
The process-costing system is used by firms that produce goods that goes through a set of manufacturing departments i.e it's used when firms mass produce nearly identical or similar units through various processes.
Under process-costing system, direct costs of production are accumulated, summarized, and then assigned to all the units produced during the period.
Thus, a single product cost is calculated by dividing process cost in each manufacturing department by the respective units produced during the production period.
Some organizations that use the process-costing system are oil refineries, chemical processing companies, eraser manufacturing companies, and food production companies.
In a process-costing system, the cost of abnormal spoilage should be treated as a loss in the period incurred.
The abnormal spoilage refers to the cost exceeding normal level, associated with spoiled units of a manufacturing process. It should be treated as a loss in the period incurred because it cannot be recovered
The answer is directors.
<h3>What entity elects the board of directors for a corporation?</h3>
- The corporation's stockholders elect its board of directors, but they play no other direct role in how the company is run. The board makes the important company decisions of directors.
- The president of a corporation is chosen directly by its stockholders.
- In addition to their duty as members of the board of directors, the officers are charged with particular duties. President As the company's chief executive officer, the president, is responsible for the following duties: Preside over board meetings. Served as the executive committee's chairman.
- The promotion of the organization's work and the recruitment of resources to support its programs and services are some of the duties of board members.
While stockholders elect the board of directors of a corporation, the board of hires the president, vice president and other officers, who manage the corporation.
The answer is directors.
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Answer: D. Longhorn owns the inventory and should report it on its balance sheet.
Explanation:
Goods to be sold on consignment for a company means a company is selling goods for another company and will be paid for their services.
In that case, the company being sold for will retain the ownership of the goods because the company that is selling it for them is simply providing a service.
Angus in this scenario are simply holding the goods to sell it and so do not own the goods. Longhorn should therefore record it in their own books as inventory.
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