At the End of the Period

question 123

Multiple Choice

At the end of the period:

• A) All variances are closed to cost of goods sold if they are material
• B) Variances are summed but they need not be recorded
• C) Variances are prorated to inventory and cost of goods sold if they are material
• D) Ignored if they are immaterial

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Definitions:

Dangerous

Something or someone that is likely to cause harm or injury.

Medical Model

An approach to understanding and treating illness that focuses on biological factors, treating mental or physical disorders as diseases with diagnoses and medical treatments.

Social Stigma

The disapproval and discrimination against individuals or groups based on perceivable social characteristics that serve to distinguish them from other members of a society.

Discrimination

The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or gender.