For Which of the Following Persons Would a Power of Attorney

question 33

Multiple Choice

For which of the following persons would a power of attorney most likely be used?

• A) trustee
• B) minor
• C) agent
• D) mental incompetent

Grasp the significance of per capita income and GDP in assessing economic health.

Recognize the importance of consumer price index in measuring inflation.

Understand government fiscal policies related to budget deficits and surplus.

Know the historical development of the American economy, including the transition from agriculture to industry.

---

Definitions:

Direct Materials

Materials in their basic form that are specifically identifiable with the manufacturing of certain products or services.

Total Variance

The overall difference between the budgeted or standard cost figures and the actual figures.

Variable Overhead

A redefinition of variable manufacturing overhead; variable overhead encompasses all variable expenses involved in the operation of a business that are not directly tied to a specific product unit.

Standard Quantity

A benchmark or norm for the amount of materials or labor expected to be used during the production of a good or service.