Homework #2 The cost of items consumed or services used is also known as a(n) asset. expense. revenue. liability. The purpose of the ledger is to keep in one place all information about changes in specific account balances. record chronologically the
The University of Texas at Austin McCombs School of Business ACC 310F: Foundations of Accounting, Spring 2008
Course Information Section 02325 02330 02335 Time Tuesday, Thursday from 11-12:30pm Tuesday, Thursday from 12:30-2pm Tuesday, Thursday from
Homework #1 Part 2 Which of the following is never included in direct materials costs? Invoice costs of direct materials. Outgoing delivery charges. Materials storage costs. Materials handling costs. All of the above are direct material costs.