Use the Following to Answer Questions

question 50

Multiple Choice

Use the following to answer questions:
Select the word or phrase from the Terms section that best matches the definition or example provided in the Definitions section.
Terms
-The world's largest sea-based system of communication and exchange before 1500 C·E·., this commercial system stretched from southern China to eastern Africa and included not only the exchange of luxury and bulk goods but also the exchange of ideas and crops.

• A)Silk Roads
• B)Black Death
• C)Indian Ocean trading network
• D)Srivijaya
• E)Arabian camel
• F)Angkor Wat
• G)Swahili civilization
• H)Great Zimbabwe
• I)Sand Roads
• J)Ghana, Mali, Songhay
• K)trans-Saharan slave trade
• L)American web
• M)Thorfinn Karlsefni
• N)pochteca

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Definitions:

Variable Costing

A method of inventory costing that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product costs, excluding fixed manufacturing overhead.

Per Unit

A term that refers to expressing costs, revenues, or any other financial metric on a per unit of production or per unit of sale basis.

Fixed Manufacturing Overhead

These are production costs that do not change with the level of manufacturing activity, such as rent for factory premises.

Inventories

Assets held for sale in the ordinary course of business, or materials to be used or consumed in the production process.