A Corporation Is Considered a Citizen Under the Fourteenth Amendment

question 26

True/False

A corporation is considered a citizen under the Fourteenth Amendment provision that, "No state shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States."

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Definitions:

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate overhead costs to products or job orders based on a chosen activity base.

Overapplied Overhead

A situation in cost accounting where the allocated overhead for a period exceeds the actual overhead incurred.

Job Order Cost System

This system is a cost accounting method that assigns costs to specific production batches or jobs, making it easier to track the financial resources spent on each job.