What Is a Tropical Year

question 244

Multiple Choice

What is a tropical year?

• A) It is the time between seeing the Sun directly overhead in the tropics (between latitudes N 23.5° and S 23.5°) and next seeing it directly overhead again.
• B) It is twice the period of time between seeing the Sun directly overhead in the tropics (between latitudes N 23.5° and S 23.5°) and next seeing it directly overhead again.
• C) It is the time from one vernal equinox to the next.
• D) It is the time between having Polaris as the north star and having Polaris again as the north star, divided by 26,000.

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Definitions:

Weighted Average Method

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

Joint Costs

Costs incurred in the process of producing two or more products simultaneously, where the costs cannot be separated easily for each product.

Skimmed Milk

A dairy product from which almost all the fat has been removed.

Physical Units Method

An accounting approach used to allocate joint costs among products based on the number of physical units at a split-off point.