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3 years ago

Indirect costs are traced to cost objects.

Business

1 answer:

Aneli [31]3 years ago

8 0

Answer:

Explanation:

The following statement is false and true

1. Indirect costs are traced to cost objects - This statement is false because it is not directly traced to the cost objectives. It is traced through the cost drivers.

2. Yes, this statement is true because the cost drivers are used to allocate the indirect cost to their cost objects

3. Yes, this statement is true because for computing the allocation rate, we have to divide the total allocation cost to its allocation base

4. Yes, this statement is true because the cost drivers play very important for cost allocation. Without cost drivers, the allocation of the cost would not be possible

5. This statement is false because depreciation should be allocated based on its useful life rather than the number of square feet because the number of square feet occupied is used to allocate the renting cost

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The four traits of constructive criticism are _______.

Dmitrij [34]

Answer:

The answer to this question is given below in the explanation section.

Explanation:

Constructive criticism is the process to offer valid and well-reasoned reponed or opinion about other works, it includes both positive and negative comments in a friendly way rather than an oppositional one.

There are four traits of constructive critisim.

So, the correct answer to this question is given below:

D: Positivity, Solution-Oriented, Specific, and private.

While other options are not correct because the four traits of constructive criticism are starting from positivity, solution-oriented, specific, and private.

8 0

2 years ago

Read 2 more answers

During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Pur

lilavasa [31]

Answer:

June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.

Merchandise $7,900 Debit

Accounts Payable $7,900 Credit

5 Returned goods costing $3,000 to Diamond Inc. for credit on account.

Accounts Payable $3,000 Debit

Merchandise $3,000 Credit

6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.

Merchandise $1,950 Debit

Accounts Payable $1,950 Credit

11 Paid the balance owed to Diamond Inc.

Accounts Payable $4,900 Debit

Merchandise $98 Credit

Cash $4,802 Credit

22 Paid Club Corp. in full.

Accounts Payable $1.950 Debit

Cash $1.950 Credit

Explanation:

First recorded the journal entry of the purchased merchandise.

June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.

Merchandise $7,900 Debit

Accounts Payable $7,900 Credit

When merchandise is returned, we make the opposite entry

5 Returned goods costing $3,000 to Diamond Inc. for credit on account.

Accounts Payable $3,000 Debit

Merchandise $3,000 Credit

It's recorded again the journal entry of the purchased merchandise.

6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.

Merchandise $1,950 Debit

Accounts Payable $1,950 Credit

When the balance is paid it's necessary to register de discount availabe becuase the payment was within 10 days, 2/10.

11 Paid the balance owed to Diamond Inc.

Accounts Payable $4,900 Debit

Merchandise $98 Credit

Cash $4,802 Credit

In the case of Club Corp the paid is in full because it's out of the discount period.

22 Paid Club Corp. in full.

Accounts Payable $1.950 Debit

Cash $1.950 Credit

7 0

2 years ago

Andy can't make a deal with Danny. Andy has a Alex Rodriguez baseball card and would like to trade it to Danny for Danny's Alber

Bogdan [553]

Answer:

A. the double coincidence of wants problem.

Explanation:

Trade by barter involves the exchange of goods and services for goods and services without the use of money as a medium of exchange. In barter system, there is what we call double coincidence of wants. This is the economic situation whereby both parties holds what the other wants to buy, so they exchange the goods directly. Here, both parties agrees to buy and sell each other commodities. However, if one of the party is not interested in what the other party is offering, it causes a disruption in the trade. This disruption refers to a drawback in the system like the example described in the question.

Here, Andy couldn't make a deal with Danny even tho he wants what Danny is offering. This is because what Danny isn't interested in what Andy is offering. Thus, the double coincidence of want and barter trade can't occur between the two parties.

5 0

3 years ago

Purchasing professionals need to ________ and ________ in order to find the right supplier.

vovangra [49]

Answer is tough question and homework.

The purchasing professional is concerned with ensuring that his or her purchasing actions complement the strategic goals of the firm. The ordinary shopper concentrates on tactical purchases, or just purchasing what is directed to him or her. Self-development is a second factor that separates the purchasing professional. The purchasing professional is always looking for ways to further his or her career by attending training seminars, continuing post-secondary education, reading, and benchmarking the methods of world-class purchasing companies.

The usual buyer would do little more than attend mandated training provided by his or her company. Supplier ties are a third consideration. The buying professional tries to form alliances with world-class suppliers who offer competitive pricing, exceptional quality systems, on-time delivery, and customer centricity.

Therefore, the blank is to be filled by tough question and homework

To know more about purchasing professional click here:

http//brainly.com/question/27818182

#SPJ4

8 0

2 years ago

At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted. Which of the following state

Anton [14]

Answer:

c. Net income will be overstated for the current year.

Explanation:

Depreciation is defined as the reduction in the value of an asset over the period of it's useful life.

The deductions are calculated and taken out of the asset value on the balance sheet.

The adjusting entry for depreciation at the end of year is a debit to Depreciation Expense and a credit to Accumulated depreciation.

If this entry is no passed it means that Depreciation Expense is not recognised for that year.

Net income will be overstated because generally expenses will be understated.

5 0

2 years ago