Which Item Is an Example of Real Property

question 86

Multiple Choice

Which item is an example of real property?

• A)Land.
• B)Equipment.
• C)Inventory.
• D)Accounts receivable.

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Definitions:

Cost of Goods Sold

Expenses directly associated with producing goods a company sells, entailing labor and material costs.

Standard Cost Variances

The differences between actual costs and standard costs in manufacturing, divided into categories such as materials, labor, and overhead.

Administrative Expenses

Overhead or general expenses related to the day-to-day operations of a business that are not directly tied to a specific project.

Fixed Manufacturing Overhead

The consistent, non-variable costs associated with manufacturing products, such as salaries and rent for factory premises.