In Setting the Direct Labor Quantity Standard,estimated Time Can Be

question 35

Multiple Choice

In setting the direct labor quantity standard,estimated time can be derived from

• A)Published benchmark studies.
• B)Time-and-motion studies.
• C)Both published benchmark studies and time-and-motion studies.
• D)Neither published benchmark studies nor time-and-motion studies.

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Definitions:

Fictitious Payee Rule

A legal principle stating that if a negotiable instrument is issued to a fictitious payee, it may be treated as payable to bearer, affecting endorsement requirements.

Imposter Rule

A rule that holds that if one obtains a negotiable instrument by impersonating another and endorses it with the impersonated party’s signature, the loss falls on the drawer of the instrument.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify transactions across state lines.

Proper Presentment

The correct or formal presentation of a document for acceptance or payment, such as a check.