Which of the Following Statements About the Composition of the U.S.labor

question 46

Multiple Choice

Which of the following statements about the composition of the U.S.labor force during the next decade is true?

• A) The labor force is expected to grow at a greater rate than at any other time in U.S. history.
• B) The largest proportion of the labor force is expected to be in the 16- to 25-year age group.
• C) For the first time ever, the number of workers under 40 years of age will exceed the number of workers 40 years of age or older.
• D) Despite a small increase in the number of young workers, the overall workforce will be aging.
• E) The total cost of labor in the United States would considerably decrease.

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Definitions:

Overapplied Manufacturing Overhead

Occurs when the amount of overhead applied to products or services exceeds the actual manufacturing overhead costs incurred.

Debit

An entry on the left side of an account, indicating an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.

Credit

An accounting entry that increases liabilities or equity or decreases an asset or expense. In finance, it's also the ability to obtain goods or services before payment, based on the trust that payment will be made in the future.

Underapplied Manufacturing Overhead

A situation where the allocated manufacturing overhead costs are less than the actual overhead costs incurred, leading to an underestimation of product costs.