Direct Costs and Indirect Costs Can Be Easily Traced Directly

question 243

True/False

Direct costs and indirect costs can be easily traced directly to a cost object.

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Definitions:

Trial Balance

A worksheet in bookkeeping that assembles the balances from each ledger into corresponding totals in debit and credit categories.

Journal Entry

A record in accounting that documents a business transaction in the general ledger, involving at least two accounts.

Land Purchase

The act of acquiring property in the form of land, often for commercial or residential development.

Cash

Currency or coins, along with deposits in bank accounts and other items that are available to pay off debts or to use in transactions immediately.