In 2012,the Average Salary of CEOs in Standard and Poor's

question 106

Multiple Choice

In 2012,the average salary of CEOs in Standard and Poor's top 500 companies was:

• A)Over $4 million
• B)between $400,000 and $800,000
• C)between $2 and $4 million
• D)a little over $1 million

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Definitions:

Units Transferred Out

In a production or manufacturing process, this refers to the number of units completed and moved out of a process or department during a given period.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.

First-In, First-Out Methods

An inventory valuation method where the first items produced or purchased are the first ones sold, affecting the cost of goods sold and inventory valuation.

First-In, First-Out Method

An inventory valuation method where the first items placed into inventory are the first ones sold.