Indicate Whether Each of the Following Statements Is True or False

question 99

Short Answer

Indicate whether each of the following statements is true or false.
1. Estimated cost data must often be used in making decisions because actual cost information is not yet available.
2. Managers often accumulate both estimated and actual cost data for the same cost object.
3. A direct cost must be allocated to a cost object.
4. For a department in a retail store, cost of goods sold is a direct cost.
5. Determining whether a cost is direct or indirect depends on the selection of cost object.

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Definitions:

Microprocessor

A computer processor contained on a single integrated circuit, performing the functions of a CPU in a computer system.

Thin Client

A computing device with minimal local storage and processing capabilities, designed to connect to a network where it can access applications and data.

Full Functionality

The full range of features or operations that a system, device, or application is designed to perform.

SSDs

Solid State Drives; a type of non-volatile storage media that stores data on flash memory and has no moving parts, offering faster access and lower latency.