True or False

1. Joint products are similar products that serve the same exact function

2. The split-off point is the point at which joint products can be separated into two or more products.

3. Assuming that the MR Corporation has an inventory of 200 defective motors costing $450,000 to produce and $150,000 to repair, the repaired units can be sold for $425,000. The company receives an offer to purchase these motors for $325,000 before repairing them. The company's decision should be to sell the motors at the offered price.