The First Major Regulatory Target in the United States Was

question 124

Multiple Choice

The first major regulatory target in the United States was

• A)Airlines.
• B)Railroads.
• C)Trucking firms.
• D)Telephone companies.

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Definitions:

Weighted-Average Method

An inventory valuation technique that calculates the cost of inventory by taking the average cost of all similar items present in the inventory.

First-In, First-Out Method

An inventory valuation method whereby the oldest inventory items are recorded as sold first, thus the cost of items purchased first is charged against revenue earlier.

Equivalent Units

A concept used in cost accounting to convert units of production into a common measure.

First-In, First-Out Method

An inventory valuation method where the oldest inventory items are recorded as sold first, leaving the newest inventory in stock.