A Description Method Used When a Product or Service Is

question 53

Multiple Choice

A description method used when a product or service is proprietary or when there is a perceived advantage to using a particular supplier's product or services is:

• A)description by market grade.
• B)description by brand.
• C)description by specification.
• D)description by performance characteristics.

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Definitions:

Ending Balance

Ending balance refers to the amount of money remaining in a particular account at the conclusion of a given period, after all transactions have been accounted for.

Finished Goods

Items that have been completed by the manufacturing process, and are ready for sale to customers.

Ending Balance

The final amount in an account at the end of an accounting period, reflecting all transactions that occurred during that period.

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that vary directly with production volume, such as utilities and raw materials.