Which of the Following Statements Is Correct

question 13

Multiple Choice

Which of the following statements is correct?

• A)Full costing takes into account all resources sacrificed to achieve a specific objective.
• B)Full costing only takes into account manufacturing costs.
• C)Only variable costs are required to determine the selling price for a product.
• D)Full costing cannot be used in the service industries.

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Definitions:

Stabilization Policy

A government strategy aimed at managing economic cycles by adjusting fiscal policy or monetary policy to stabilize the economy.

Aggregate Demand

Aggregate demand is the total demand for all goods and services in an economy at a given overall price level and in a given time period.

Active Stabilization Policy

Government policies aimed at reducing economic fluctuations through fiscal and monetary actions.

Fiscal Policy

Government policies related to taxation and spending that aim to influence economic conditions.