Controlling the Materials Price Variance Is Usually the Responsibility Of

question 99

Multiple Choice

Controlling the materials price variance is usually the responsibility of:

• A)The purchasing agent.
• B)The marketing director.
• C)The production supervisor.
• D)The cost accountant.

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Definitions:

Current Ratio

A financial metric assessing a firm's capability to settle debts due within a year.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations by comparing its current assets to its current liabilities.

Note Payable

A written promise to pay a specified amount of money, usually with interest, at a future date.

Account Payable

An account payable is a liability representing an amount owed by an entity to a supplier or creditor for goods or services received but not yet paid for.