Under the Corporations Act Which of the Following Is Not

question 15

Multiple Choice

Under the Corporations Act which of the following is not a criteria for an individual to be appointed as a company director?

• A)no serious indictable offences
• B)a minimum of 5 years of relevant experience in the company's industry
• C)signed consent to the company
• D)a minimum age of 18

Identify the components and importance of a bill of materials in product costing.

Comprehend how actual overhead costs are treated in job costing systems.

Understand the purpose and content of a job cost sheet.

Recognize the use of employee time tickets in tracking direct labor costs.

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Definitions:

Revenues

The gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Nonfinancial Information

Data that relates to the operational, environmental, and social aspects of a business, which cannot be easily quantified in monetary terms.

Employee Turnover

The rate at which employees leave a company and are replaced by new employees.