When the Principal Ratifies the Act of the Unauthorized Person,such

question 21

True/False

When the principal ratifies the act of the unauthorized person,such ratification does not release the unauthorized person from liability,since he or she acted without authority.

Identify the components and purposes of progress reports.

Understand the importance and methods of data collection in report preparation.

Recognize the significance of reports in documenting periodic activities or specific events.

Understand the functions and uses of Word's MAILINGS tab for document preparation.

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Definitions:

Job-Order Costing

A costing system used to accumulate costs of manufacturing a job or batch, where each job or batch has its distinct characteristics.

Predetermined Overhead Rate

This rate is calculated before a period begins and is used to apply overhead costs to products based on a selected activity base.

Job-Order Costing

A cost accounting system used to allocate costs to specific jobs or batches, useful for unique or custom orders.

Machine-Hours

A measure of production time, referring to the total hours a machine is operated within a specific period.