Which of the Following Is the Best Example of a Quota

question 284

Multiple Choice

Which of the following is the best example of a quota?

• A) a limit imposed on the number of sport utility vehicles that the United States can import from Japan
• B) a subsidy granted by the U.S. government to domestic garment manufacturers so they can compete more effectively with foreign garment manufacturers
• C) a tax placed on all sport utility vehicles sold in the domestic market
• D) a $5,000 per-car fee imposed on all sport utility vehicles imported into the United States

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Definitions:

Job Cost Sheet

An account in the work in process subsidiary ledger in which the costs charged to a particular job order are recorded.

Job Order Costing

A cost accounting system in which costs are assigned to specific jobs or batches, which are often custom orders.

Job Order Cost

A cost system that assigns costs directly to a specific job or batch of product, tracking direct labor, direct materials, and overhead.

Crude Oil Refining

The industrial process of transforming crude oil into usable products such as fuel, gasoline, and diesel.