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Here are the best resources to pass ACCT 505 MIDTERM EXAM QUESTIONS AND ANSWERS. Find ACCT 505 MIDTERM EXAM QUESTIONS AND ANSWERS study guides, notes, assignments, and much more.
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ACCT 505 MIDTERM EXAM QUESTIONS AND ANSWERS
Exam (elaborations) • 9
pages
• 2022
ACCT 505 MIDTERM EXAM

QUESTIONS AND ANSWERS

1. Question : (TCO A) Direct material cost is a part of

Student Answer:

Conversion Cost NO.... Prime Cost NO.

Conversion Cost YES.... Prime Cost NO.

Conversion Cost YES.... Prime Cost YES.

Conversion Cost NO.... Prime Cost YES.

Instructor

Explanation:

See Chapter 2.

Question 2. Question : (TCO A) A cost incurred in the past that is not relevant to any current

decision is classified as a(n)

Student Answer:

period cost.

incremental cost...
ACCT 505 MIDTERM EXAM QUESTIONS AND ANSWERS
Last document update:
ago
ACCT 505 MIDTERM EXAM

QUESTIONS AND ANSWERS

1. Question : (TCO A) Direct material cost is a part of

Student Answer:

Conversion Cost NO.... Prime Cost NO.

Conversion Cost YES.... Prime Cost NO.

Conversion Cost YES.... Prime Cost YES.

Conversion Cost NO.... Prime Cost YES.

Instructor

Explanation:

See Chapter 2.

Question 2. Question : (TCO A) A cost incurred in the past that is not relevant to any current

decision is classified as a(n)

Student Answer:

period cost.

incremental cost...
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