Examlex
If they form a corporation and Pat Smith gets into an accident with the company's van and the van is not insured, George Johnson could be held personally liable for any damages resulting from the accident.
Raw Materials
Basic substances in their natural, modified, or semi-processed states, used as inputs to a production process for manufacturing goods.
Direct Labor
The cost of wages for employees who are directly involved in the production of goods or services, an integral part of manufacturing costs.
Raw Materials
The basic substances used in production processes to create goods, often transformed or converted during the manufacturing.
Cost of Goods Available
The total cost of inventory that is available for sale during a given period.
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