Which of the Following Is True of the Sherman Anti-Trust

question 57

Multiple Choice

Which of the following is true of the Sherman Anti-Trust Act?

• A) It posed as much of a threat to small businessmen as to large corporations.
• B) It did not clearly define what constituted a "restraint of trade."
• C) It brutally destroyed American agriculture by defining any farm of more than 500 acres as a monopoly.
• D) It was enforceable at the discretion of business bureaus in state governments.

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Definitions:

Job Order Cost System

A type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory.

Process Cost System

An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion.

Factory Overhead Applied

The allocation of overhead costs, such as utility and maintenance expenses, to the production process or products based on predetermined rates.

Actual Costs

Actual costs are the actual expenses incurred in the production or acquisition of goods and services, as opposed to estimated or budgeted costs.