Science Is

question 42

Multiple Choice

Science is:

• A) experimental rather than logical.
• B) empirical rather than theoretical.
• C) not based on direct experience.
• D) based on experience and reason.

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Definitions:

Absorption Costing

A costing method where all manufacturing costs including both direct costs like labor and materials and indirect costs like overhead are allocated to the product.

Variable Costing

An accounting method that only considers variable costs in the calculation of product or service costs, excluding fixed costs.

Net Operating Income

The profit a company makes from its regular business operations, excluding non-operating income and expenses.

Units

A standard quantity of a product, used in various contexts such as measurement, accounting, or inventory control.