Statement I

question 74

Multiple Choice

Statement I.As basic reading,writing,and math skills have declined in the United States,computer skills have increased dramatically.
Statement II.Virtually all economists agree that the more than doubling of our rate of productivity growth since the mid-1990s was due almost entirely to the more widespread use of computers.

• A)Statement I is true and statement II is false.
• B)Statement II is true and Statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Setup Labour

The work and time involved in preparing equipment or machines for a new production run, often considered a manufacturing overhead cost.

Setup For One Run

The preparation and adjustment activities required to switch a production process or machine from making one product or batch to another.

Activity Cost

The financial sum associated with carrying out a specific business task or operation, usually involved in budgeting and accounting.

Activity-based Costing System

An accounting method that assigns costs to products and services based on the activities and resources that go into creating them, providing more precise costing information.