When Time and Billing Is Set Up for a Service

question 1

Multiple Choice

When time and billing is set up for a service activity -

• A) the pricing tab details are not used
• B) prices are taken from the pricing tab screen and applied to the time-based rates or flat fee
• C) all regular price and preferred price customers pay the same prices
• D) customers are not charged HST on the activity, only GST is charged

Analyze the primary reasons why firms have cash surpluses, including financing planned expenditures and investing funds.

Learn the operational and financial benefits of employing a lockbox system, including reduced collection time and increased efficiency.

Calculate the financial impact and feasibilities of implementing cash management tools such as lockbox services or changing investment compositions.

Acquire knowledge about the models and theories that help determine optimal cash balances and transaction costs, including BAT and Miller-Orr models.

---

Definitions:

Unit Product Cost

The cost of producing one unit of a product, including direct materials, direct labor, and manufacturing overhead.

Absorption Costing

A costing approach that integrates both direct and indirect costs associated with manufacturing into the product's total cost.

Ending Inventory

The value of the goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Variable Costing

A costing method where only variable costs are considered when determining the cost of goods sold, excluding fixed overhead.