The Time During Which One Develops a Plan and Chooses

question 608

Multiple Choice

The time during which one develops a plan and chooses a means of meeting a threat is called

• A)primary appraisal.
• B)the adaptation phase.
• C)secondary appraisal.
• D)the reactive plan stage.

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Definitions:

Weighted-Average Method

An inventory costing method that assigns the same cost to each unit, calculated as the total cost of goods available for sale divided by the total units available.

Process Costing

A method of costing used for homogenous products, where costs are accumulated over a period and assigned to units of output on an average basis.

Conversion Costs

The total cost of direct labor and overhead incurred in the process of converting raw materials into finished goods.

Equivalent Units

A concept used in process costing that converts partially completed units into a number of fully completed units.