Which of the Following Is Generally Thought Not to Be

question 58

Multiple Choice

Which of the following is generally thought not to be a public encumbrance?

• A) building codes
• B) environmental protection laws
• C) judgment lien
• D) zoning

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Definitions:

Price Variance

The difference between the actual cost of a good or service and its budgeted or standard cost.

Standard Cost System

A cost accounting system that uses standard costs for products or services to compare against actual costs and analyze variances for management control.

Work In Process Inventory

Goods that are in the process of being manufactured but are not yet complete.

Fixed Overhead Costs

Regular, unchanged costs incurred by a business, regardless of its level of production or activity, such as rent and salaries.