According to the Uniform Commercial Code,what Is a Change,without Consent,that

question 45

Multiple Choice

According to the Uniform Commercial Code,what is a change,without consent,that modifies the obligation of a party to the instrument?

• A)An alteration
• B)An accord
• C)An accord and satisfaction
• D)A unilateral modification
• E)A reformation

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Definitions:

Direct Materials Cost

Direct materials cost refers to the expenditure on the raw materials that are directly identifiable and allocable to the production of a product.

Overapplied Overhead

This refers to a situation in which the allocated overhead cost is greater than the actual overhead cost incurred.

Predetermined Rate

A rate calculated before the fiscal period begins, used to apply costs to production or operations, often based on labor hours or machine hours.

Predetermined Overhead Rate

A rate calculated at the beginning of the period, used to allocate overhead costs to products based on a specific activity base.