An Effective Set of Minutes Should Have All the Following

question 54

Multiple Choice

An effective set of minutes should have all the following characteristics EXCEPT

• A) be written concisely
• B) show a detailed account of each speaker's opinions
• C) present a record of specific action items
• D) include enough information that someone who was not at the meeting can learn what was discussed and what decisions were made

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Definitions:

Perpetual System

An inventory accounting system that continuously updates inventory records and cost of goods sold after each purchase or sale.

Factory Overhead

Refers to indirect manufacturing costs, including expenses related to operating the factory environment, such as rent, insurance, and salaries for administrative personnel.

Machine Hours

A measure of production time or usage, indicating the total hours that machinery is operated in the manufacturing process.

Underapplied Amount

The shortfall when the allocated budgeted or standard cost amount is less than the actual expense.