Match Each of the Following Stockholders' Equity Concepts to the Appropriate

question 2

Multiple Choice

Match each of the following stockholders' equity concepts to the appropriate term (a-h) .
-A company whose shares are not bought or sold in public markets

• A)Articles of incorporation
• B)Limited liability
• C)Bylaws
• D)Corporation
• E)Public corporation
• F)Board of directors
• G)Private corporation
• H)Dividends

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours taken to produce a good or service and the standard labor hours expected, multiplied by the labor rate.

Direct Labor

Labor costs directly associated with the production of goods or services, including wages for workers who physically produce a product.

Standard Costs

Preset costs for delivering a product or service under normal conditions, used as benchmarks to measure actual performance.

Average Cost

Average cost is the total cost of producing a certain quantity of goods divided by that quantity, calculating the cost per unit of goods produced.