The Tendency of the Body to Gravitate Toward a State

question 12

Multiple Choice

The tendency of the body to gravitate toward a state of equilibrium or balance is known as:

• A) association.
• B) compensatory response.
• C) tolerance.
• D) homeostasis.

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Definitions:

Inventories Deferred

Inventories or stock that are postponed or delayed from being recognized in the financial statements.

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold, excluding fixed overhead.

Variable Costing

Variable costing is a costing method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs.

Fixed Manufacturing Overhead

Consistent costs associated with manufacturing that do not vary with the level of production, such as rent and salaries of managers.