What Organization Played a Key Role in the Development of a Solution

question 25

Multiple Choice

What organization played a key role in the development of a solution to the sovereign debt issues challenging the governments of a number of European Union members in 2010 and 2011?

• A) WTO
• B) IMF
• C) U.S. government
• D) ECB
• E) World Bank

---

Definitions:

Quantity Variance

A measure of the difference between the expected and actual quantities used in production, affecting materials or labor.

Overhead Absorbed

The overhead rate multiplied by standard units of volume.

Direct Labor Hours

The total amount of time spent by employees directly involved in manufacturing products or providing services.

Overhead Volume Variance

The flexible budget at standard volume less the overhead applied. It is an estimate of the unused or overused fixed plant capacity.