The Result of the 2012 Election Was That the __________

question 6

Multiple Choice

The result of the 2012 election was that the __________ party controlled the presidency, the __________ party controlled the House of Representatives and the __________ party controlled the Senate.

• A) Democratic; Democratic; Republican
• B) Republican; Democratic; Democratic
• C) Republican; Republican; Republican
• D) Democratic; Democratic; Democratic
• E) Republican; Republican; Democratic

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Definitions:

Variable Costing

An accounting method in which variable manufacturing costs are included in product costs, while fixed manufacturing overhead is treated as an expense of the current period.

Net Operating Income

A financial metric that calculates a company's income after operating expenses are deducted, but before interest and taxes are subtracted.

Direct Material Cost

The expense of fundamental materials directly utilized in the production of a product.

Product Cost

The total amount of costs directly and indirectly involved in manufacturing a product or delivering a service.