According to the World Resources Institute, Where Does the Majority

question 37

Multiple Choice

According to the World Resources Institute, where does the majority (80% or so) of global ocean pollution come from?

• A)Offshore mining and drilling activities.
• B)Accidental oil spills.
• C)Deliberate dumping of litter in the ocean.
• D)Human activities on land that runoff into ocean ecosystems.

Appreciate the complexity of value creation and its foundational assumptions in business.

Analyze the role of imagination and unconventional thinking in problem-solving and creativity.

Understand the application and interpretation of descriptive statistics in real-world situations.

Calculate and interpret the mean, standard deviation, range, and variance of a data set.

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs (direct labor, materials, and overhead) in the cost of a product.

Variable Costing

A bookkeeping approach that incorporates just the variable costs of production such as direct materials, direct labor, and variable manufacturing overhead into the costs of products.

Unit Product Cost

The total cost (direct materials, direct labor, and overhead) divided by the number of units produced.

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable overhead) in product cost calculations, excluding fixed manufacturing overhead.