Inputs or Activities That Cause Changes in the Total Cost

question 76

Multiple Choice

Inputs or activities that cause changes in the total cost of a cost object are:

• A) value added activities
• B) cost drivers
• C) quality costs
• D) unimportant in Activity Based Costing

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Definitions:

Imports and Exports

Economic transactions involving the buying of goods and services from foreign countries (imports) and selling domestically produced goods and services to foreign countries (exports).

Eurozone

The 19 nations (as of 2019) of the 28-member (as of 2019) European Union that use the euro as their common currency. The eurozone countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

Exchange Rates

The rate at which one currency can be exchanged for another, influencing international trade and economics.

Monetary Policy

Actions taken by a central bank or financial authority to regulate the supply of money and interest rates in an economy to achieve macroeconomic objectives.