When Calculating the Budgeted Rate for Direct Professional Time,the Numerator

question 3

Multiple Choice

When calculating the budgeted rate for direct professional time,the numerator is:

• A)budgeted number of professional hours.
• B)actual number of professional hours.
• C)budgeted cost of professional time.
• D)actual cost of professional time.

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Definitions:

Risk Passes

A term indicating the point in a transaction where the liability for loss or damage to goods transfers from the seller to the buyer.

Buyer's Expense

Buyer's expense refers to costs that the purchaser of goods or services is required to pay, outside of the purchase price, such as shipping or taxes.

Conditional Contracts

Agreements that become enforceable only upon the occurrence of specified conditions.

Sale-On-Approval Contracts

Contracts that allow buyers to take possession of goods before deciding whether to complete the purchase, often used in sales where inspection is necessary.