The Federal Government Shutdown from October 1 to October 16

question 11

Multiple Choice

The federal government shutdown from October 1 to October 16 of 2013 occurred because

• A) President Obama had not yet submitted a budget for FY 2014.
• B) Congress passed a continuing resolution that was vetoed by President Obama.
• C) Congress had not passed the necessary legislation to keep the government running.
• D) the Supreme Court ruled that the budgeting process was unconstitutional.
• E) President Obama and the congressional Democrats refused to talk with congressional Republicans.

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Definitions:

Activity-Based Costing

A costing method that assigns costs to products or services based on the activities and resources that go into creating them, aiming for more accurate cost information.

Activity-Based Costing

is a method of accounting that assigns costs to products based on the activities they require, aiming to provide more accurate product costing.

Activity Rate

The activity rate refers to a predetermined overhead rate used in activity-based costing to allocate costs to products or services based on specific activities.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to assign overhead costs to products or job orders based on a relevant activity base such as machine hours or labor hours.