Author Question: A business is an organization in which basic resources or inputs, like materials and labor, are ... (Read 107 times)

justinmsk · **on:** Jul 6, 2018

A business is an organization in which basic resources or inputs, like materials and labor, are assembled andprocessed to provide outputs in the form of goods or services to customers.
a. True
b. False

Indicate whether the statement is true or false

Question 2

The town of Red Herring issued 60,000 of purchase orders. Assume that when all orders were received, the actual cost of was 59,000 . How much would be recorded as expenditures when the purchase orders were issued?

a. 60,000
b. 59,000
c. 0
d. 1,000
e. None of the above.