Direct materials, direct labor, and factory overhead are assigned to each manufacturing process in a process costing system.

Under the accrual system, revenue is recognized when cash is paid.

The primary purpose of the ________ plan is to specify the marketing activities for a specific period of time.

A) marketing
B) business
C) strategic
D) organizational
E) resource

The presence or absence of other people may either increase or decrease the amount of stress that an individual experiences.

Statement I: The International Monetary Fund (IMF) was set up as a lender of last resort to discourage member nations from devaluating their currency.
Statement II: The World Bank was created in the same year as the IMF for the purpose of making long-term,low-interest loans to developing countries,mainly to build highways,bridges,dams,power generators,and water supply systems.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Which of the following is a protection that is clearly provided by the Fair Labor Standards Act?

A) Overtime payments for white collar workers
B) Wages for interns who are working for college credit, receive education benefit from their internships.
C) Minimum wage for hourly employees.
D) Fair wages for independent contractors.

A chart of accounts for a merchandising business

A) usually is the same as the chart of accounts for a service business
B) usually requires more accounts than does the chart of accounts for a service business
C) usually is standardized by the FASB for all merchandising businesses
D) always uses a three-digit numbering system