Mid-Range Futurist Thinking Involves Thinking How Far into the Future

question 51

Multiple Choice

Mid-range futurist thinking involves thinking how far into the future?

• A) 2-5 years
• B) 5-10 years
• C) 10-20 years
• D) 50 years

---

Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.

Variable Costing

An accounting method that charges only variable production costs to units produced and treats fixed manufacturing overhead as a period expense.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the cost of a product.