What are the three possible results (or findings) from the use of control charts?
What will be an ideal response?
The results of a control chart can indicate (a) in control and capable, (b) in control but not capable, and (c) out of control.
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Which statement about options is FALSE?
A. Consideration is necessary for a valid option. B. The optionee has the option to exercise or refrain from exercising the option. C. The optionor can revoke the option by returning the consideration. D. Options can be assigned unless personal in nature or prohibited by the option terms.
If manufacturing overhead has been overallocated during the period, and most of the jobs produced have been sold, then
A) Cost of Goods Sold on the income statement should be increased. B) Cost of Goods Sold on the income statement should be decreased. C) finished goods inventory should be increased. D) work in process inventory should be decreased.