Figure 3-3 -Refer to Figure 3-3.Suppose Fred Spends Half of His Time

question 66

Multiple Choice

Figure 3-3

-Refer to Figure 3-3.Suppose Fred spends half of his time producing ballet slippers and the other half of his time producing tap shoes.Ginger divides her time the same way.Then

• A)total production of ballet slippers would be 7 and total production of tap shoes would be 8.
• B)total production of ballet slippers would be 8 and total production of tap shoes would be 8.
• C)total production of ballet slippers would be 9 and total production of tap shoes would be 6.
• D)total production of ballet slippers would be 10 and total production of tap shoes would be 8.

---

Definitions:

Accounts Payable Subsidiary Ledger

A detailed ledger that contains the individual accounts of suppliers and creditors, supplementing the general accounts payable account in the general ledger.

Payments To Creditors

Monetary transactions made to repay debts or amounts owed to suppliers and lenders.

Adjustment For Expired Insurance

An accounting entry made to allocated insurance premiums that have expired during a period to accurately reflect insurance expense.

Subsidiary Ledger

A detailed ledger supporting a general ledger, containing information on individual accounts like customers or suppliers.