How Does a Catastrophe Differ from a Disaster

question 4

Multiple Choice

How does a catastrophe differ from a disaster?

• A)damages from a catastrophe are of such a magnitude to require a long recovery period
• B)a disaster is typically much worse than a catastrophe
• C)a catastrophe involves loss of life, while a disaster does not
• D)a disaster occurs across a much greater geographic area than does a catastrophe

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Definitions:

Conversion Costs

The combined costs of direct labor and manufacturing overheads, representing the expenses to convert raw materials into finished goods.

Equivalent Units

Equivalent units are a concept in cost accounting used to express the amount of materials or labor needed to produce a unit of output in a process that is partially complete.

Manufacturing Activity

The process of converting raw materials into finished goods through various operations such as assembling, machining, or processing.

Materials

The substances or components used in the manufacturing of products or provision of services.