If the entry to assign factory labor showed only a debit to Work In Process Inventory, then all labor costs were
a. direct labor.
b. indirect labor.
c. overtime related.
d. regular hours.
Answer: a. direct labor.
Business
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Indicate whether this statement is true or false.
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China and India require that when foreign firms enter into joint ventures with local firms, the local partners must have the controlling ownership stake. What is this an example of?
A) Local content laws B) Business practice laws C) Fair trade agreements D) Quotas E) Subsidies
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