Which of the Following Statements Is True

question 102

Multiple Choice

Which of the following statements is true?

• A)U.S.GDP per capita is five times larger than the world average.
• B)According to world standards,12 percent of Americans are poor.
• C)The poorest nations of the world have average incomes of $5,000.
• D)"Extreme poverty" refers to an income of less than $2 per day.

---

Definitions:

Manufacturing Overhead Costs

Indirect costs associated with manufacturing that cannot be directly traced to specific products, such as factory rent, utilities, and maintenance.

Overapplied Overhead

A credit balance in the Manufacturing Overhead account that occurs when the amount of overhead cost applied to Work in Process exceeds the amount of overhead cost actually incurred during a period.

Product-Level Activity

Activities and costs incurred for a particular product line, not directly related to individual units but necessary for the production of the product.

Cafeteria Facilities

On-site food service areas provided by institutions for their employees, students, or residents.