Those Activities That Consume Resources but Do Not Contribute to the Value

question 118

Multiple Choice

Those activities that consume resources but do not contribute to the value of the product are referred as

• A)contribution activities.
• B)non-value-added activities.
• C)negative activities.
• D)period costs.

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Definitions:

Taxes

Mandatory financial contributions levied by governments on individuals and businesses to fund public expenditures.

Penalties

Sanctions or punishments imposed for violating laws or regulations, which can include fines, imprisonment, or other forms of punishment.

Homestead Exemption

A legal provision that protects the value of a home from property taxes, creditors, and circumstances arising from the death of the homeowner's spouse.

Federal Bankruptcy Laws

Laws that govern bankruptcy proceedings in the United States, outlining the process for individuals and entities to discharge or reorganize their debts.