Which of the Following Is a Single Product Line

question 215

Multiple Choice

Which of the following is a single product line?

• A)Four-door sedans offered by various automobile manufacturers
• B)Passenger jets manufactured by Airbus and Boeing
• C)Almond, caramel and dark chocolate flavors of Hershey Kisses
• D)Different brands of toothpaste for people with sensitive teeth

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Definitions:

Operating Segments

Individual, identifiable components of an enterprise that engage in business activities, earn revenues, and incur expenses.

Reportable

Pertaining to information or data that must be disclosed or presented in official reports.

LIFO Cost-Flow

A method in inventory valuation where the most recently produced or acquired items are considered sold first, leading to older inventory costs being reported in the financial statements.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs.