New Technologies Are Assisting Off-The-Job Training and Creating More Cost-Effective

question 288

True/False

New technologies are assisting off-the-job training and creating more cost-effective methods for on-the-job training, when the job requires learning more intricate skills.

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Definitions:

Opening Inventory

The quantity and value of stock available at the start of an accounting period.

Absorption Costing

A method of accounting that encompasses the total manufacturing expenses – encompassing direct materials, direct labor, as well as both variable and fixed overhead costs – within the product's cost.

Variable Costing

An accounting method that only considers variable costs in product pricing and decision making.

Fixed Overhead Expensed

The practice of charging fixed overhead costs to the income statement in the period they are incurred, rather than allocating them to products.