AK
Alexander Knight
Answers (5)
AK
Answered
Inventories help manufacturers cope with unexpected changes in the supply of their resources or in the demand for their products.
On May 15, 2024
True
AK
Answered
Property tax expense is an example of a controllable cost for the supervisor of a manufacturing department.
On May 15, 2024
False
AK
Answered
Whether a tax is levied on sellers or buyers, buyers and sellers usually share the burden of taxes.
On May 15, 2024
True
AK
Answered
Describe how an accounting firm could experience economies of scale.
On May 12, 2024
Specialization of labor can produce economies of scale. Specialization of labor could occur if the firm hires new workers with different areas of expertise. Suppose that the first person specializes in individual tax returns, the second person specializes in small business tax returns, and the third person specializes in farm tax returns. The three employees together could produce more than triple the number of tax returns that the first person could produce.