How Was Ocean Shipping Transformed by the Mid-Nineteenth Century

question 51

Multiple Choice

How was ocean shipping transformed by the mid-nineteenth century?

• A) There were more efficient, powerful engines.
• B) The average size of freighters increased from 200 to 7,500 tons.
• C) Steel replaced wooden hulls.
• D) Propellers replaced paddle wheels.
• E) All of these

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Definitions:

Variable Costing

A costing method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in unit product costs.

Income From Operations

Earnings derived from a company's regular business activities, excluding revenues and expenses from non-operating activities.

Break-Even Point

The level of production or sales at which revenues equal expenses, resulting in zero profit or loss.

Operating Income

Earnings before interest and taxes, presenting a company's profit from regular operational activities.