On the Vertical Axis, the Production Possibilities Frontier Shows ________;

question 168

Multiple Choice

On the vertical axis, the production possibilities frontier shows ________; on the horizontal axis, the production possibilities frontier shows ________.

• A) the quantity of a good; the number of workers employed to produce the good
• B) the quantity of a good; the price of the good
• C) the quantity of a good; a weighted average of resources used to produce the good
• D) the quantity of one good; the quantity of another good

Understand the concept of cost of goods available for sale and how it's computed for a manufacturing company.

Recognize similarities and differences between financial and managerial accounting.

Identify examples of period costs versus product costs in a manufacturing setting.

Prepare and interpret manufacturing cost data and its impact on inventory accounts and income statements.

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Definitions:

Bender Visual-Motor Gestalt Test

The oldest and most commonly used of neuropsychological assessments often used to screen children for neuropsychological impairment. The test consists of a series of nine cards containing lines and shapes drawn in black on a piece of white cardboard. Children are asked first to copy the images on another card and then to draw them from memory. Errors in reproducing these lines and shapes may indicate neurological problems.

False Positives

Incorrect test results indicating the presence of a condition or substance when it is not actually present.

Standardized Scoring

A process of quantifying test or assessment results according to prescribed norms and procedures to ensure comparability.

Construct Validity

The validity of a test assuming a specific theoretical framework that relates the item the test measures, often rather abstract, to some other item that is more easily assessed. If the two sets of measurements correlate, the test is said to have construct validity.