In Both Actual and Normal Costing the Actual Cost of Direct

question 103

True/False

In both actual and normal costing the actual cost of direct materials and direct labour is recorded.

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Definitions:

Sale

A contract in which ownership of goods is transferred by the seller to the buyer for a price.

Title

Legal ownership of property, especially real estate or automobiles.

Oral Contracts

Agreements that are made verbally and are legally binding, though harder to prove than written contracts.

Written Confirmation

A document that records and verifies specific details of an agreement or transaction between two or more parties.