Organizations That Are Formed in Order to Represent Their Members

question 80

Multiple Choice

Organizations that are formed in order to represent their members' interests while dealing with employers are known as

• A) employee guilds.
• B) sororities.
• C) lobbies.
• D) member clubs.
• E) labor unions.

---

Definitions:

Work In Process Inventory

Goods that are in the process of being manufactured but are not yet complete.

Fixed Overhead Costs

Regular, unchanged costs incurred by a business, regardless of its level of production or activity, such as rent and salaries.

Control Perspective

An approach focusing on the monitoring and adjusting of processes and strategies to achieve desired outcomes or objectives.

Revenue Variance

The difference between how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. A favorable (unfavorable) revenue variance occurs because the revenue is higher (lower) than expected, given the actual level of activity for the period.