Which of the Following Is an Example of a Supranational

question 20

Multiple Choice

Which of the following is an example of a supranational institution?

• A)the World Intellectual Property Organization
• B)the UNICEF
• C)the Red Cross
• D)the World Trade Organization

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Definitions:

Variable Costing

An accounting method that only considers variable costs (costs that change with production volume) in product costing and in the calculation of net income.

Absorption Costing

A method of product costing that includes all manufacturing costs, both variable and fixed, in the cost of a product.

Direct Labor Cost

The wages and related benefits paid to workers who are directly involved in the production of goods or services.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.