ASE-Style Multiple Choice While Having a Discussion, Technician a Says

question 33

Multiple Choice

ASE-Style Multiple Choice While having a discussion, Technician A says that single-part urethane foams made for home use cannot be used for replacing automotive foam fillers. Technician B says OEM replacement parts never come with the foam already in them. Who is correct?

• A)A only
• B)B only
• C)Both A and B
• D)Neither A nor B

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Definitions:

Accounts Payable

A liability account that records amounts the company owes to suppliers or creditors for purchases or services received on credit.

Physical Inventory Count

A physical inventory count is the process of manually counting all merchandise or stock in a business to verify records and manage inventory levels.

Cost Of Inventory

The total cost incurred to acquire, produce, and place inventory items available for sale, including purchase price, shipping, handling, and storage.

Cost Of Goods Sold

An expense representing the total cost of materials and labor required to produce goods that have been sold in a given period.