Secondary Sources of Law

question 105

Multiple Choice

Secondary sources of law:

• A)Are from the Roman tradition of law
• B)Cannot be used in court cases
• C)Are books and articles that summarize, synthesize, and explain the primary sources of law
• D)Are notoriously unreliable

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Definitions:

Absorption Costing

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

Manufacturing Margin

The difference between the sales revenue of manufactured goods and the direct costs associated with producing them.

Contribution Margin

The difference between the sales revenue of a product and its variable costs, used to cover fixed costs and generate profit.

Absorption Costing

A costing technique that incorporates all costs associated with production, including both fixed and variable expenses, into the product's price.