Which of the Following Is an Example of Direct Labor

question 119

Multiple Choice

Which of the following is an example of direct labor cost in a factory?

• A) wages of assembly line personnel
• B) salary of vice president of production
• C) wages of factory security guard
• D) salary of production manager

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Definitions:

Individual Companies

Refers to separate, distinct legal business entities, as opposed to conglomerates or groups of companies under common ownership or control.

Retrospective Application Method

An accounting method that applies a new policy or correction as if it had always been in effect, adjusting past financial statements accordingly.

Previously Released

Referring to information or data that has been made available to the public before the current date.

All-Inclusive Income Concept

A method of accounting where every revenue, gain, expense, and loss is included in the income statement to give a comprehensive view of financial performance.