"Supply Curves Are Upward Sloping" Is a Graphical Way of Saying

question 38

Multiple Choice

"Supply curves are upward sloping" is a graphical way of saying

• A) supply equals demand
• B) price and quantity supplied are inversely related
• C) price and quantity demanded are directly related
• D) price and quantity supplied are directly related
• E) price and quantity demanded are inversely related

---

Definitions:

Job-Order Cost System

An accounting system that collects and assigns manufacturing costs to individual units or batches of production, enabling precise tracking of material, labor, and overhead costs.

Employee Time Ticket

A document or record used to track the amount of time an employee spends on various tasks or projects.

Actual Overhead

The real, incurred overhead costs within a specific accounting period, as opposed to budgeted or standard overhead costs.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead to individual units of production, based on a chosen activity base.