Which of the Following Is FALSE Regarding Over-The-Counter Medicine

question 47

Multiple Choice

Which of the following is FALSE regarding over-the-counter medicine?

• A) There are over 100, 000 OTC drugs available.
• B) Many of these medicines were formerly prescription drugs.
• C) Medications must be approved by the Food and Drug Administration before being available as an over-the-counter product.
• D) They are medicines that Health Canada through the Food and Drug Act has deemed safe for use without a physician's prescription.

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Definitions:

Net Operating Income

A measure of a company's profitability from its core business operations, excluding deductions of interest and taxes.

Absorption Costing

A costing method that includes all manufacturing costs - both fixed and variable - in the cost of a product.

Net Operating Income

The total profit of a company after operating expenses are subtracted from gross profit but before taxes and interest are deducted.

Absorption Costing

Accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.