Place the Following Steps in the Order Suggested by the Seven

question 29

Multiple Choice

Place the following steps in the order suggested by the seven steps used to assign costs to individual jobs:
A.identify indirect costs
B.compute the total cost of the job
C.select cost-allocation bases
D.compute the indirect cost rate

• A)cadb
• B)acdb
• C)bacd
• D)dcab

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Definitions:

Insurable Interest

A legitimate stake or investment in the life, property, or well-being of the subject matter of an insurance policy, such that the policyholder would suffer financial loss if the insured event occurs.

Life Insurance

An insurance policy that pays out a sum of money on the death of the insured person or after a set period.

Repaid

The action of paying back money that has been borrowed, often including an interest component.

Liability Coverage

Insurance that provides protection against claims resulting from injuries and damage to people and/or property.