What Should You Do If You're Planning to Share Referral

question 21

Multiple Choice

What should you do if you're planning to share referral information with young clients?

• A) Inform and educate your referral sources in advance.
• B) Be sure to have some positive feedback to share with the client.
• C) You should avoid sharing referral information, because doing so violates the confidentiality of the referral source.
• D) Both A and B are correct.
• E) Both A and C are correct.

---

Definitions:

Process Costing

An accounting method used for homogeneous products, where costs are accumulated over a period and then allocated to units produced.

Conversion Cost

The combination of direct labor and manufacturing overhead costs, representing the costs to convert raw materials into finished products.

Conversion Costs

Costs required to convert raw materials into finished products, typically including direct labor and manufacturing overhead.

FIFO Method

First-In, First-Out method; an inventory valuation method where goods purchased or produced first are sold or used first.