The answer is false because a customer is a person that buys goods or services from a store of business.
Answer:
Money serves as a medium of exchange, as a store of value, and as a unit of account.
Answer:
The balance in the Work in Process inventory at the month end is $60
Explanation:
Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.
For computing the Job 3 work in progress, the calculation part is shown below.
= Direct material + Direct labor + overhead expense
= $30 + $10 + 200% × 10
= $30 + $10 + $20
=$60
Hence, the balance in the Work in Process inventory at the month end is $60
Answer:
E. Natural resources, Physical capital and Human capital
Explanation:
The above are the three major categories of resources because natural resources such as air, water etc are given by nature thus essential and constitute an important part of resources. Also, physical capital such as buildings, assets, motor vehicles etc are owned by a business or an organization to carryout daily business activities hence one of the major categories of resources.
Human capital is responsible for employing people to manage and control the natural resources and physical capital.
