What Do Occupational Classifications Identify

question 10

Multiple Choice

What do occupational classifications identify?

• A)the products a worker helps to produce
• B)blue-collar, white-collar, or pink-collar work
• C)the kind of work a worker does
• D)for whom a worker works (for example, her/himself, a small firm, a multinational company, etc.)
• E)how much training a worker has

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Definitions:

Adjusted Cost of Goods Sold

The cost of goods sold figure after it has been adjusted for returns, allowances, and any other adjustments.

Unadjusted Cost of Goods Sold

The initial calculation of the cost of goods sold that does not factor in any adjustments like returns or allowances.

Unadjusted Cost of Goods Sold

The initial calculation of the cost of products sold before any adjustments or corrections are made.

Total Manufacturing Cost

The aggregate of all costs—direct materials, direct labor, and manufacturing overhead—incurred in producing finished goods.