By-products are Select one: a. not sufficient alone, in terms of sales value, for management to justify undertaking the joint process. b. the primary reason management undertook the production process. c. also known as scrap. d. items resulting from a joint process that have no further value.
1. By-products are
Select one:
a. not sufficient alone, in terms of sales value, for management to justify undertaking the joint process.
b. the primary reason management undertook the production process.
c. also known as scrap.
d. items resulting from a joint process that have no further value.
2. Which of the following is a false statement about scrap and by-products?
Select one:
a. Both scrap and by-products are incidental outputs to the joint process.
b. Management’s goal is to produce both scrap and by-products.
c. Both by-products and scrap are salable.
d. A by-product has a higher sales value than does scrap.
3. The definition of a sunk cost is
Select one:
a. a cost that relates to money poured into the
ground.
b. considered the original cost of an item.
c. also known as an opportunity cost.
d. a cost that cannot be recovered regardless of what happens.
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