MATCHING KEY TERMS AND DEFINITIONS

question 32

Multiple Choice

MATCHING KEY TERMS AND DEFINITIONS
-Benefits offered to an employee's "live-in" partner.

• A)Summary Plan Description
• B)Defined contribution plan
• C)Health Maintenance Organization
• D)Flexible benefits
• E)Workers' compensation
• F)Domestic partner benefits
• G)Legally required benefits
• H)Unemployment compensation
• I)Social Security
• J)PPO
• K)Employee benefits
• L)ERISA
• M)Consumer driven health plan (CDHP)
• N)Flexible spending accounts
• O)Defined benefit plan

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Definitions:

Process Costing

An accounting method used to allocate costs to products that are nearly identical and produced in a continuous process.

Processing Department

A specific unit within a manufacturing facility where a particular process or sequence of operations is carried out.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on an average cost of all goods available for sale.

Total Cost Transferred

The total amount of costs moved from one stage of production to the next, or from one department to another.