Which of the Following Persons Would Have Been the Most

question 2

Multiple Choice

Which of the following persons would have been the most likely supporter of the Articles of Confederation?

• A) a merchant desiring access to British markets
• B) a Continental army officer from the Revolutionary War
• C) an urban artisan
• D) a person who owned a bond issued by the Congress
• E) an indebted farmer in western Massachusetts

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Definitions:

Variable Costing

A costing method that includes only variable production costs (materials, labor, and overhead) in the cost of goods sold and treats fixed overhead expenses as period costs.

GAAP

Generally Accepted Accounting Principles, a common set of accounting rules and standards used in the United States for preparing financial statements.

Variable Costs

Costs that vary directly with the level of production or sales volume.

Production Level

The quantity of goods or services produced within a specified period by a company, factory, or manufacturing plant.