Which of the Following Is TRUE

question 15

Multiple Choice

Which of the following is TRUE?

• A)Domestic policies are never barriers to trade.
• B)Programs aimed at supporting domestic industries do not form trade barriers today.
• C)Tariffs and quotas in industrial nations are significantly higher now than they were in 1950.
• D)Tariffs and quotas are the primary trade barrier in industrialized countries.
• E)Domestic policies intended to protect consumers or the environment may become trade barriers.

---

Definitions:

Predetermined Manufacturing Overhead

A calculation used to estimate the total manufacturing overhead costs for a certain period, often used for budgeting and cost management in production.

Machine-hours

A measure of the amount of time machines are utilized in the production process.

Overhead Applied

The process of allocating indirect costs to specific cost objects such as products or projects.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to products, calculated at the beginning of an accounting period.