External Shocks Include All of the Following Except

question 120

Multiple Choice

External shocks include all of the following except

• A)Population growth.
• B)Natural disasters.
• C)Terrorist attacks.
• D)Wars.

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Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor used in production and the expected (or standard) cost, which can indicate efficiency in labor usage.

Actual Rate Per Hour

The true cost or payment rate for labor or services rendered, calculated on an hourly basis.

Standard Rate Per Hour

The predetermined cost or rate applied to labor or services per hour for budgeting and costing purposes.

Ideal Standards

Strictly defined benchmarks in cost accounting that assume perfect efficiency and effectiveness in operation.