The Direct Materials Budget Details 1

question 80

Multiple Choice

The direct materials budget details 1. the quantity of direct materials to be purchased.
2. the cost of direct materials to be purchased.

• A)1
• B)2
• C)both 1 and 2
• D)neither 1 nor 2

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Definitions:

Private Saving

The income that households have left after paying for taxes and consumption.

Consumption Tax

A consumption tax is a tax on the money people spend rather than the money people earn. It includes sales taxes, value added taxes (VAT), and others.

Means Testing

A method for determining eligibility for certain forms of government assistance based on the applicant's financial means or income level.

National Debt

The total amount of money that a country's government has borrowed, by various means.