The G.I. Bill of 1944

question 19

Multiple Choice

The G.I. Bill of 1944

• A)aided expansion of the military academies.
• B)resulted in increased funding for schools with large enrollments of African American students.
• C)provided federal funds for veterans to subsidize their education.
• D)represents the first time the federal government assisted higher education.

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Definitions:

Direct Materials Price Variance

The difference between the actual cost of direct materials used in production and the expected (or standard) cost.

Actual Costs

The genuine expenses that are incurred in the production or acquisition of goods and services.

Standard Costs

Predetermined cost estimates relating to how much it should cost to produce a product or provide a service under normal conditions.

Time Variance

The difference between the projected time to complete a task and the actual time taken, often analyzed in project management.