The Uniform Computer Information Transactions Act Was Passed by Congress

question 36

True/False

The Uniform Computer Information Transactions Act was passed by Congress in 1999.

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Definitions:

Direct Materials Cost

The expense incurred for raw materials that are directly traceable to the production of specific goods or services.

Raw Materials Inventory

The total cost of all the parts and materials that are held in stock by a company and are used in the production process.

Cost of Goods Manufactured

The total cost incurred to produce products that were completed during a specific accounting period.

Raw Materials Inventory

The total cost of all the materials that are used in making a product that is still in stock and not yet processed.