A Discretionary Form of Financing Would Be

question 49

Multiple Choice

A discretionary form of financing would be

• A) notes payable.
• B) accounts payable.
• C) accrued expenses.
• D) none of the above.

Understand the legal concepts related to the possession and ownership of personal and real property.

Identify the elements required for a valid gift transaction, including delivery and acceptance.

Recognize the principles of bailment and the rights and obligations of the bailor and bailee.

Differentiate between types of property insurance and understand the basics of insurance policy terms.

---

Definitions:

Prevention Cost

The cost incurred to prevent defects in products or services, including costs related to quality planning and assurance.

Quality Cost Report

A financial report that quantifies the total cost of quality-related activities, including prevention, appraisal, and failure costs.

Quality Improvement

The process of making changes to operations to increase the efficiency and effectiveness of products, services, and processes.

External Failure Cost

Costs incurred when a product fails to meet quality standards after it is delivered to the customer, including returns, repairs, and warranty claims.