In 1984,a Federal Judge Broke Up a Highly Contested Telephone

question 80

Multiple Choice

In 1984,a federal judge broke up a highly contested telephone service monopoly and:

• A) set up the Telecommunications Competition and Deregulation Act
• B) permitted MCI to provide limited long distance service in the U.S.
• C) permitted telephone and/or computer equipment that was not manufactured by Bell Telephone to be connected to AT&T's network
• D) divided AT&T into two parts: one part for long distance service, and a second part, comprised of seven regional operating companies, for local telephone service
• E) set up deregulation for international telecommunications markets in 68 countries

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Definitions:

Homogeneous Product

A product that is uniform in quality and indistinguishable from other products of the same type.

Weighted-Average Method

A process costing method that calculates unit costs by combining costs and outputs from the current and prior periods.

Prior Period Costs

Costs that were incurred in a previous accounting period but are recorded or recognized in the current period's financial statements.

Processing Costing System

An accounting system used to allocate production costs to products or services when they are mass-produced in continuous processes.