Which of the Following Commodities Do We Use the Most

question 79

Multiple Choice

Which of the following commodities do we use the most of by weight) ?

• A) coal
• B) natural gas
• C) iron ore
• D) sand, gravel, and stone
• E) clays

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Definitions:

Cost Of Goods Sold

The immediate expenses linked to the manufacturing of products sold by a business, comprising costs for materials and labor.

Direct Method

An approach in cost accounting that traces costs directly to cost objects without distributing indirect costs.

Inventories

The raw materials, work-in-progress products, and finished goods that a company holds for the purpose of sale in the future.

Accounts Payable

Liabilities to creditors that must be paid within a short period, usually less than a year.