The Intention of the U

question 130

Multiple Choice

The intention of the U.S.tariff on Chinese tries was to

• A) protect jobs in the U. S. tire industry.
• B) protect infant industries in tire U.S. tire market.
• C) insure that Chinese tires meet U.S. quality and safety standards.
• D) save the government money by restricting the sale of more expensive Chinese-made tires.

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Definitions:

Period Cost

Expenses incurred during a specific period of time that are not directly tied to the production of goods or services.

Prime Costs

consists of the direct costs directly attributable to the manufacture of goods, specifically direct materials and direct labor.

Conversion Costs

Costs incurred to convert raw materials into finished products, typically including direct labor and manufacturing overhead.

Managerial Accounting

The practice of identifying, measuring, analyzing, and interpreting accounting information to help managers make informed operational decisions.