A Business's Source Documents May Include All of the Following

question 55

Multiple Choice

A business's source documents may include all of the following except:

• A)Sales tickets.
• B)Ledgers.
• C)Checks.
• D)Purchase orders.
• E)Bank statements.

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Definitions:

Efficiency

The ratio of the output gained from a system to the input used, often used to evaluate the performance of a business operation or machine.

Standard Price

A pre-determined cost that is often used in budgeting and financial planning, serving as a benchmark for performance evaluation.

Direct Materials

Materials that become an integral part of a finished product and whose costs can be conveniently traced to it.

Final, Delivered Cost

The comprehensive cost of a good or service including its production, logistics, and any other costs until its delivery to the final consumer.