What Are the Two Characteristics a People Must Share to Qualify

question 34

Multiple Choice

What are the two characteristics a people must share to qualify as a society?

• A) the same race and the same social class
• B) the same social class and the same territory
• C) the same culture and the same territory
• D) the same race and the same territory

---

Definitions:

Conversion Costs

Conversion costs are manufacturing expenses incurred in converting raw materials into finished products, including direct labor and manufacturing overhead.

First-In, First-Out

An inventory valuation method where the oldest inventory items are recorded as sold first.

Process Costing System

A method used in accounting and management to assign production costs to units of output, typically used for processes that produce large quantities of similar items.

Conversion Costs

Costs associated with converting raw materials into finished products, including labor and manufacturing overhead.