Direct Costs Are Those Costs That Can Be Easily and Accurately

question 4

True/False

Direct costs are those costs that can be easily and accurately traced to a cost object.

---

Definitions:

Court Action

Legal proceedings initiated in a court of law where a plaintiff brings a lawsuit against a defendant.

Repossessed

The act of a lender taking back an object, typically a vehicle or property, from the borrower due to failure to make the agreed-upon payments.

Legal Processes

Formal procedures and practices followed in the administration of justice, including litigation and judicial decisions.

Financing Statement

A document filed to give public notice to third parties of a security interest in personal property.