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:

Harmonized Sales Tax (HST)

A combined tax in some Canadian provinces that merges the federal goods and services tax (GST) with the provincial sales tax (PST) into a single value-added tax.

Current Liability

Obligations or debts that a company needs to settle within one year or one business cycle, whichever is longer.

Financial Liability

An obligation to pay money to another party, recorded on a company's balance sheet.

Contractual Obligation

A duty or responsibility one party owes to another under the terms of a contract.