The Correct Order to Present Current Assets Is

question 47

Multiple Choice

The correct order to present current assets is

• A) cash,inventories,prepaid items,accounts receivable.
• B) cash,inventories,accounts receivable,prepaid items.
• C) cash,accounts receivable,prepaid items,inventories.
• D) cash,accounts receivable,inventories,prepaid items.

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Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, used as a measure of performance in variance analysis.

Actual Rate

The actual interest rate or return that is earned or paid on an investment, loan, or other financial product.

Standard Rate

A predetermined or fixed cost rate that is applied uniformly across units, activities, or time for budgeting or billing purposes.

Unfavorable Cost Variance

A variance that occurs when the actual cost exceeds the standard cost.