Match the Term with Its Definition

question 12

Essay

Match the term with its definition.Some terms may not be used.
a.Business interruption insurance
b.Business owner's policy
c.Commercial general liability insurance
d.Disability insurance
e.Funds transfer fraud
f.Key-person life insurance
g.Package policy
h.Personnel risks
i.Proximate cause
j.Reasonable standard
k.Workers' compensation insurance
-A business version of a homeowner's policy designed to meet the property and general liability insurance needs of some small business owners

Understand the flow of costs from work in process to finished goods and then to cost of goods sold upon sale.

Compute total costs to account for and prepare a process cost summary report.

Grasp the concept of equivalent units of production.

Match process costing terminologies with their appropriate definitions.

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Definitions:

Drives

Internal states that motivate the organism to perform actions necessary for survival, such as hunger or thirst.

Contiguity

In psychology, contiguity is the principle that ideas, memories, and experiences are linked when one is frequently experienced with the other, leading to easier recall or association.

S-R Association

stands for Stimulus-Response Association, referring to the connection that forms between a specific stimulus and a particular response.

Guthrie

Edwin Ray Guthrie, a psychologist known for his theory that learning occurs through contiguity between stimuli and responses, not through reinforcement.