Cost Objects May Be Jobs, Products, or Customers

question 161

True/False

Cost objects may be jobs, products, or customers.

---

Definitions:

Lack of Delivery

Failure to physically transfer a product, item, or document to its recipient or to fulfill a promise or obligation by the agreed-upon date.

Promissory Note

A written promise to pay a specified sum of money to a designated person at either a fixed or determinable future time.

Contributory Negligence

A legal defense that involves the failure of an injured party to be careful enough to ensure personal safety.

Lack of Possession

The absence of physical custody or control over an object, property, or asset that one might legally own or have rights to.