A Cost Hierarchy Describes

question 141

Multiple Choice

A cost hierarchy describes

• A)a technique for direct cost tracing.
• B)the process of arranging costs by importance.
• C)the logic of segregating costs by value-chain classification.
• D)the logic of separating one indirect cost pool into multiple pools according to activity level.
• E)a technique of differentiating fixed and variable costs.

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law among the states.

Article 2

A section of the UCC that governs the sale of goods, establishing standards and regulations for contracts and transactions.