Which Statement Is True

question 54

Multiple Choice

Which statement is true?

• A)OPEC is responsible for over 80 percent of the world's oil exports.
• B)In early March 2008,when the price of a barrel of oil passed the $100 mark,economists thought OPEC with their market power might increase production to prevent further increases.
• C)OPEC has lowered the price of oil by holding down output.
• D)None of the statements are true.

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Definitions:

Direct Method

A way of allocating service departments' costs directly to producing departments without any intermediate allocations, used in cost accounting.

Service Department

A division within a business that provides essential support but does not directly add value to the product or service.

Pediatrics Department

A specialized medical division focused on the care, diagnosis, and treatment of infants, children, and adolescents.

Employee Hours

A measurement of the amount of time an employee works during a given period.