Match Each Phrase That Follows with the Term A-H It

question 127

Multiple Choice

Match each phrase that follows with the term a-h it describes.
-costing system used by a company producing computer chips

• A)direct labor and factory overhead
• B)direct labor and direct materials
• C)transferred in costs
• D)equivalent units
• E)process costing
• F)job order costing
• G)first-in, first-out method
• H)cost of production report

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Definitions:

Automatic Stabilizer

Economic strategies and initiatives aimed at balancing shifts in a country's economic performance without interference from governmental or policy-making bodies.

Supply-Side

Economic theory that emphasizes the importance of increasing supply (production of goods and services) as the key to economic growth, lower unemployment, and lower inflation.

Federal Budget Deficit

The shortfall in the federal government's budget when its expenditures surpass its revenues.

National Debt

The total amount of money that a country’s government has borrowed by issuing securities, usually through selling bonds.