Answer:
FALSE
Explanation:
The FASB, GASB, and FASAB do not all focus their standards on both internal and external financial reporting.
The GASB - Governmental Accounting Standards Board and the FASB - Financial Accounting Standards Board, tend to focus more on external users of financial information while the FASAB - Federal Accounting Standards Advisory Board tend to focus on both internal and external users of financial information.
Answer:
manufacturing overhead
Explanation:
To record the utility expense in a job order cost system, the manufacturing overhead account is debited as it has come under the manufacturing overhead cost like indirect material, indirect labor, rent on the factory, insurance of factory, etc
So, only the manufacturing overhead account is debited as the utility expense is incurred
Trade finance is an activity lending issuing letter or credit factoring export credit and insurance
Answer:
d. credit to Manufacturing Overhead for $24,000.
Explanation:
Applied Manufacturing overhead = ( 1,800+3000) x $5 = $24,000
So, The journal entry to record this will be,
Dr. Cr.
Work in Process of $24,000
Manufacturing Overhead $24,000
So, manufacturing overhead account is credited with the value of $24,000.
Answer:
D) Sole proprietorship
Explanation:
Sole Proprietorship offers the <em>quickest decision-making</em>, because a sole proprietorship consists of only 1 owner, which means that the decision is only required to be made by the owner, and not by other people. This offers the quickest decision-making.
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