In 1988, What Changes Occurred Concerning the Antarctica Treaty System

question 54

Multiple Choice

In 1988, what changes occurred concerning the Antarctica treaty system?

• A) Regulated mineral mining was allowed
• B) Antarctica was divided into several sovereign regions
• C) A 50-year mining ban was imposed
• D) Oil companies were given rights to drill

---

Definitions:

Process Costing

A costing method used for homogeneous products that are continuously produced, calculating costs for each process or department and averaging it over all units produced.

Equivalent Unit Cost

The costing method used in process costing that calculates the cost per unit taking into consideration the stage of completion of goods in process.

Process Costing

An accounting method used where production is continuous, and costs are assigned to units of product based on the processes they undergo.

Weighted-Average Method

A costing method used in process costing that averages the costs for units in production, combining costs from the current and previous periods.