Which of the Following Statements Is True of Baby Boomers

question 27

Multiple Choice

Which of the following statements is true of baby boomers?

• A)The youngest baby boomers were around 34 years old in 2013.
• B)They lay emphasis on price and quality while making purchase decisions.
• C)They prefer to be addressed as senior, elderly, or aged.
• D)They are a small market with minimal spending power.

---

Definitions:

Absorption Costing

An accounting method that includes all direct costs and allocated overhead costs in the cost base of manufactured goods.

Variable Costing

A costing method that includes only variable production costs (direct labor, direct materials, and variable manufacturing overhead) in the cost of goods sold, with fixed manufacturing overhead treated as period costs.

Direct Labor

The wages and related expenses for workers who are directly involved in the manufacturing of products.

LIFO

Last In, First Out, an inventory valuation method where the most recently produced or acquired items are the first to be expensed.