Grant's Strategy as General-In-Chief Was to

question 16

Multiple Choice

Grant's strategy as general-in-chief was to

• A)make occasional probes against the enemy and then quickly retreat.
• B)take Richmond.
• C)make constant attacks against Confederate forces on all fronts.
• D)avoid an all-out military showdown.
• E)starve the citizens of the Confederacy until they surrendered.

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Definitions:

Variable Costing

An accounting method that only allocates variable costs to inventory, treating fixed costs as expenses of the period.

Absorption Costing

A method of costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Operating Income

Operating income is the profit realized from a company's regular business operations, excluding deductions of interest and taxes, as well as any gains or losses from non-operating activities.

Direct Costing

A cost accounting method where only variable costs (direct materials, direct labor, variable manufacturing overhead) are included in product costs, fixed overhead costs are expensed in the period they are incurred.