Under absorption costing and variable costing, how are variable manufacturing costs treated? Absorption Variable
a. Product Cost Product Cost
b. Product Cost Period Cost
c. Period Cost Product Cost
d. Period Cost Period Cost
a. Product Cost Product Cost
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The ethical "no free lunch" rule states that
A) if an action cannot be taken repeatedly, then it is not right to be taken at any time. B) one should take the action that produces the least harm or incurs the least cost. C) one can put values in rank order and understand the consequences of various courses of action. D) everything is owned by someone else, and that the creator wants compensation for this work. E) anything of value should not be taken.
One issue considered in developing corporate strategies is
A) What business(es) are we in? B) What direction are we going? C) What resources do we have to implement our strategies? D) What businesses are we in and what to do with those businesses? E) None of the answer choices is correct.