One of the Goals of the Association of Southeast Asian

question 25

Multiple Choice

One of the goals of the Association of Southeast Asian Nations was:

• A)to form a defensive regional security group against China
• B)to reduce the political influence of Great Britain and France
• C)to reduce the political interference of both U.S.and Great Britain
• D)to facilitate adoption of Communism during the Cold War
• E)none of these

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Definitions:

Unadjusted Cost of Goods Sold

Unadjusted Cost of Goods Sold (COGS) is the initial calculation of all costs directly associated with the production of goods before any adjustments for inventory changes or other factors.

Journal Entry

A record in the accounting journal that represents a business transaction and its effect on the accounts.

Manufacturing Overhead

All indirect costs associated with the production process, from maintenance expenses of the production facility to the supplies needed for operation.

Work in Process

Goods that are midway through the manufacturing process but are not fully finished.