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FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the following activities that take place in a medical clinic. (a ) Cleaning exam rooms . (b) Heating and air conditioning the clinic. (c) Sending blood work to a lab. Every 10 blood tests send to lab, no individual blood test send to lab. (d) Dispensing medicine. Which of the following statements is true? a. Heating the clinic and dispensing medication are both batch level activities. b. Cleaning rooms and dispensing medication are both product or service level activities. c. Sending blood work and dispensing medicine are both batch level activities. d. Sending blood work to the lab is a batch level activity. e. Cleaning rooms and heating the clinic are both unit level activities.

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