Which of the Following Statements Is NOT TRUE

question 205

Multiple Choice

Which of the following statements is NOT TRUE?

• A) Storing is a marketing function.
• B) Storing allows producers and intermediaries to keep stocks at convenient locations.
• C) Storing allows the producer to achieve economies of scale in production.
• D) Storing is necessary when production of goods doesn't match consumption.
• E) Storing can increase the value of goods, but does not involve costs.

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Definitions:

Job-Order Cost System

An accounting system that collects and assigns manufacturing costs to individual units or batches of production, enabling precise tracking of material, labor, and overhead costs.

Employee Time Ticket

A document or record used to track the amount of time an employee spends on various tasks or projects.

Actual Overhead

The real, incurred overhead costs within a specific accounting period, as opposed to budgeted or standard overhead costs.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead to individual units of production, based on a chosen activity base.