MATCHING -Contractual Limitation of Liability

question 19

Multiple Choice

MATCHING
-contractual limitation of liability

• A)defense
• B)comparative negligence
• C)contributory negligence
• D)last clear chance
• E)assumption of the risk
• F)avoidable consequences
• G)express assumption of the risk
• H)ordinary negligence
• I)public policy
• J)adhesion contract

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Definitions:

Underapplied Manufacturing Overhead

The situation where the allocated manufacturing overhead costs are less than the actual costs incurred.

Overapplied Manufacturing Overhead

The condition where the allocated manufacturing overhead costs exceed the actual overhead expenses incurred during a period.

Manufacturing Overhead Account

An accounting term referring to all indirect costs associated with manufacturing a product, such as utilities, depreciation, and salary of indirect labor.

Direct Labor

Labor costs that are directly attributable to the production of goods or services, such as wages for workers manufacturing a product.