MATCHING Match Each Person with One of the Descriptions Below

question 65

Multiple Choice

MATCHING
Match each person with one of the descriptions below.
-Robert Gates

• A)was an Alaska governor and darling of the Tea Party
• B)carried Florida by 537 votes in 2000
• C)became House Speaker as a result of the 2006 election
• D)was the independent counsel who prosecuted Bill Clinton
• E)finished third in the 1996 presidential elections
• F)authored the Contract with America
• G)was appointed secretary of state by Barack Obama
• H)was the Federal Reserve Board chairman
• I)was appointed secretary of defense by Barack Obama
• J)was a central figure in a major sex scandal

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Definitions:

FIFO Method

An inventory valuation technique where the first items placed in inventory are the first ones sold, standing for "First In, First Out."

Equivalent Unit

A concept in cost accounting used to allocate costs to partially completed units of product, treating them as an equivalent of a proportionate number of fully completed units.

Direct Materials

Raw materials directly used in the production of a product, easily traceable to the finished product.

Weighted Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the average cost of all similar items in inventory.