Reference no: EM132784148

Problem 1: Which one of the following is not a cost element in manufacturing a product?

a. Manufacturing overhead

b. Office salaries

c. Direct labor

d. Direct materials

Problem 2: If accounts receivable have increased during the period,

a. revenues on an accrual basis are less than revenues on a cash basis.

b. revenues on an accrual basis are greater than revenues on a cash basis.

c. expenses on an accrual basis are greater than expenses on a cash basis.

d. revenues on an accrual basis are the same as revenues on a cash basis.