Price Controls Date Back to

question 221

Multiple Choice

Price controls date back to

• A)World War II.
• B)the U.S.Revolutionary War.
• C)thousands of years, at least back to ancient Babylonia.
• D)the 1970s.
• E)the last 20 years.

---

Definitions:

Product Design Hour

Product design hour refers to the time spent on the creation and planning of new products, from conceptualization to final design.

Activity-Based Costing

A costing methodology that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Assembly Activity Cost Pool

A grouping of all costs related to the assembly process in activity-based costing, used to allocate costs to products or services.

Labor-Hour

A measure of work accomplished, recorded, or billed based on the number of hours worked.