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A Fortune-500 company purchases a new clock for $35. The clock is expected to last for five years. According to the materiality threshold, this would be treated as an ________ in the accounting records.
Manufacturing Company
A type of company that uses raw materials, parts, and components to assemble finished goods.
Direct Labor
The labor costs directly tied to the production of goods or services, including wages of workers directly involved in manufacturing.
Factory Employees
Workers employed in a manufacturing setting, responsible for the production of goods.
Raw Materials
Basic items or goods used in the production of goods or services, which can include commodities or components before they are processed or used in manufacturing.
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