Long-lived assets only include the tangible assets of an organization

Which of the following is an example of internal failure costs?

A) costs incurred for the evaluation of the quality of suppliers' processes B) costs incurred in the inspection at various stages of production C) cost incurred for the reworking of substandard products D) cost incurred as warranty expenses

A 10 percent merit pay increase budget tells us which of the following?

A) The minimum pay increase amounts to 10 percent. B) The maximum pay increase amounts to 10 percent. C) The average pay increase amounts to 10 percent. D) The standard deviation of any pay increase cannot be more than 10 percent below or above the average.