The Presence of Oxygen in Earth's Atmosphere Is Thought to Result

question 1

Multiple Choice

The presence of oxygen in Earth's atmosphere is thought to result directly from what type of process?

• A) volcanic eruptions
• B) outgassing of the oceans
• C) original condensation of interplanetary gas clouds
• D) biological activity of plants and animals

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Definitions:

Unit Product Cost

The total cost to produce one unit of a product, including direct materials, direct labor, and overhead allocated on a per-unit basis.

Absorption Costing

This method in accounting ensures that the costing of a product fully reflects all manufacturing expenses, which cover direct materials, direct labor and all overhead costs, fixed and variable alike.

Variable Costing

This is an accounting technique that incorporates only the variable costs of production, including direct materials, direct labor, and variable manufacturing overhead, into the costs of products.

Break-even Sales

The amount of revenue needed to cover total fixed and variable costs, resulting in neither profit nor loss.