What Is an Example of a Class Action Lawsuit

question 82

Multiple Choice

What is an example of a class action lawsuit?

• A) any case decided by the U.S. Supreme Court that affects an entire class of people
• B) Bush v. Gore, which ruled on the Florida recount process in the 2000 presidential election
• C) Chisholm v. Georgia, which ruled that a citizen of one state could sue another state in federal court
• D) Citizens United v. Federal Election Commission, which ruled that corporations were entitled to use treasury funds for independent spending in campaigns
• E) the 1.5 million current and former female Walmart employees who recently sued Walmart for sex discrimination

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Definitions:

Allocating And Assigning

The process of charging costs to cost objects or determining how costs should be divided and assigned to specific segments of a business.

Accumulating And Assigning

The process of gathering cost data and allocating it to specific products, services, or departments.

Raw Materials Inventory

The total cost of all the materials that are used in making a product but have not yet been converted into the finished product.

Control Account

An account used in accounting to summarize and manage detailed information while keeping the general ledger free of clutter.