Which Is True of World War I

question 55

Multiple Choice

Which is true of World War I?

• A)Leaders expected the war to be the longest war in history.
• B)Leaders thought the war would be average length and prepared for it.
• C)Leaders expected the war to be short.
• D)Leaders had fairly realistic expectations for the war.
• E)The war claimed more lives than any other war in human history.

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Definitions:

Fixed Manufacturing Overhead

Costs associated with manufacturing that do not vary with the level of production, such as rent, salaries of managers, and depreciation of equipment.

Absorption Costing

A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overheads - in the cost of a unit of product.

Variable Costing

A costing method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold and reports fixed overhead as an expense of the period.

Fixed Manufacturing Overhead

Indirect production costs that remain constant regardless of the level of goods or services produced.