All of the Following Are True of Members of Congress

question 27

Multiple Choice

All of the following are true of members of Congress EXCEPT

• A)they are disproportionately male.
• B)they are disproportionately white.
• C)they are, on average, about as wealthy as the average American citizen.
• D)more of them are lawyers than any other profession.
• E)they are, on average, older than the average American citizen.

---

Definitions:

Weighted-Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all items available for sale.

Equivalent Units

A technique in process costing that equates partially finished goods to a specific number of fully completed goods.

Shaping Department

A specialized division in manufacturing focused on altering raw materials into desired forms through processes like cutting, bending, or molding.

Cost Reconciliation Report

A financial document used to compare and reconcile the costs incurred with the costs allocated to products or services, often in process costing systems.