Which of the Following Is Not a Cost Element on the Job

question 57

Multiple Choice

Which of the following is not a cost element on the job cost sheet?

• A)Materials.
• B)Labor.
• C)Hours.
• D)Overhead.

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Definitions:

Primarily Liable

Refers to the party or entity that bears the main responsibility in fulfilling an obligation or debt, without dependence on the failure of another party.

Personal Defenses

Legal defenses used in a lawsuit that are specific to the defendant, often relating to the contract's validity or terms.

Fraud in the Inducement

A deceitful act causing someone to enter into an agreement or contract by misrepresenting material facts or intentions.

Holder in Due Course

A party in possession of a negotiable instrument, such as a check or promissory note, acquired in good faith and thus protected against many defenses.