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Accounting

1. Managerial accounting

A. Focuses primarily on reporting to regulatory agencies

B .Is governed by generally accepted accounting principles

C.I s highly discretionary and varies greatly from business to business

D. Should be considered as a substitute for financial accounting

2. Which cost are not affected by the level of production?

A. Total fixed costs

B. Direct materials

C. Direct labor

D. Total variable costs

3. Given the following information how much was transferred to work in process on January 31? Inventory on January 1 is 100,000, raw materials purchased in Jan are 500,000 and and raw materials inventory on Jan. 31 200,000

A. 200,000

B. 400,000

C. 600,000

D. 700,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800906

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