The procurement process is also referred to as the requisition-to-pay process. a. true b. false

What does the phrase limited liability mean in a corporate context?

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n. v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.