In Which of the Following Types of Accounts Are Decreases

question 12

Multiple Choice

In which of the following types of accounts are decreases recorded by credits?

• A) liabilities
• B) owner's capital
• C) drawing
• D) revenues

Distinguish between special and general libraries’ purposes and collections.

Understand the concept and importance of experiments in business research.

Distinguish between various forms of communication and research methods.

Recognize the importance of evaluating the reliability of online resources.

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Definitions:

Direct Materials Price Variance

The difference between the actual cost of direct materials and the standard cost, multiplied by the quantity purchased.

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost multiplied by the actual hours worked.

Actual Quantity

The real amount of materials, labor, or overhead used in production or service delivery, as opposed to budgeted or standard quantities.

Standard Variable Overhead

This refers to the portion of variable overhead costs in production that varies directly with the level of production output or activity.