A Type of Insurance That Protects Workers from Loss of Wages

question 13

Multiple Choice

A type of insurance that protects workers from loss of wages after an industrial accident that happened on the job is called

• A) an individual policy.
• B) workers' compensation.
• C) unemployment insurance.
• D) disability insurance.

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Definitions:

Production Cost

The direct and indirect expenses incurred to manufacture goods or provide services.

Equivalent Units

A concept in cost accounting used to denote the amount of work done on incomplete units, expressed in terms of fully completed units.

Physical Units

A measure of production output or inventory in terms of the actual number of units, as opposed to the cost or value of the units.

Percentage of Completion

A method of accounting for long-term contracts in which income is recognized as a proportion of work completed at certain stages.