Which of the Following Is True

question 502

Multiple Choice

Which of the following is true?

• A) In 1916, the per person real government expenditures were approximately 60 times greater than in 1800.
• B) Prior to 1929, government expenditures at the state and local levels were substantially smaller than federal expenditures.
• C) Real federal spending per person was approximately 80 times greater in 2010 than in 1916.
• D) All of the above are true.

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Definitions:

Supplies

Items that are used in the day-to-day operations of a business, not directly part of the manufactured product but necessary for its production.

Labor Rate Variance

The difference between the actual labor costs incurred and the standard labor costs expected for the work performed.

Labor Efficiency Variance

A metric used to measure the difference between the actual labor hours worked and the standard labor hours allowed for the production achieved.

Labor Standards

Predetermined measures of the amount of labor time necessary for the completion of a task or project.