The Skill of Creativity ______

question 67

Multiple Choice

The skill of creativity ______.

• A)frees the imagination, opens up our minds to opportunities and possibilities, and help us to be more innovative as entrepreneurs
• B)acts in order to learn, tries something, learns from the attempt
• C)relates to how others are feeling because you have been in a similar situation
• D)requires a general openness to the world and relates to unleashing our creative ability to create and find opportunities and solve problems

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Definitions:

Conversion Costs

The combined costs of direct labor and manufacturing overhead, incurred to convert raw materials into finished goods.

Process Costing

An accounting methodology used for homogenous products, which accumulates production costs and then allocates them to large numbers of identical units.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, which are incurred to convert raw materials into finished products.

Process Costing

A costing methodology employed in industries where production is continuous, assigning costs to units of product based on the processes they go through.