Mark Is the Newest Technician at His Company but Had

question 8

Multiple Choice

Mark is the newest technician at his company but had seen the need to start a recycling program. Mark takes the initiative to collect recycle bins,post signs and put them by the trash.Mark is being a
)

• A)leader
• B)manager
• C)supervisor
• D)follower

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Definitions:

Inventory

The total amount of goods and materials held by a company for the purpose of resale or production, including raw materials, work-in-progress, and finished goods.

GAAP

Generally Accepted Accounting Principles, the standardized set of accounting rules, practices, and procedures used in preparing financial statements in the U.S.

Product Costing

Product costing involves determining all expenses related to the creation of a product, including materials, labor, and overhead, to establish its total cost.

Absorption Costing

In this accounting method, total costs of manufacturing, from direct materials and labor to both fixed and variable overheads, are completely absorbed into the product’s final cost.