Which of the Following Is True of Jobs and Organizations

question 77

Multiple Choice

Which of the following is true of jobs and organizations during the Industrial Revolution?

• A) Jobs were performed in fields, homes, or small shops.
• B) Managers realized the importance of customer relations.
• C) Unskilled laborers running machines began to replace high-paid, skilled artisans.
• D) Cottage laborers worked with each other out of small homes that were often built in a semicircle and did not need management.

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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.