Tariffs and Import Quotas Differ in That

question 131

Multiple Choice

Tariffs and import quotas differ in that

• A) one is a form of trade restriction, while the other is not.
• B) one is a tax, while the other is a limit.
• C) one is imposed by the government, while the other is imposed by the private sector.
• D) one is legal, while the other is not.

Analyze and calculate the total variance in overhead costs.

Understand the procedure for computing direct material cost variance.

Determine the actual cost of direct labor through variance analysis.

Grasp the essentials of flexible budgets, their preparation, and variance analysis for effective managerial decision-making.

---

Definitions:

Impact

The strong effect or influence that one thing has on another.

Human Communication

The process of making sense out of the world and sharing that sense with others by creating meaning through the use of verbal and nonverbal messages.

Encoded Communication

The translation of information or ideas into a specific format or code for transmission to a recipient.

Task Dimension

A form of content dimension in the workplace; leaders, including managers, supervisors, or those who take charge, communicate content messages to accomplish certain tasks.