In School, You May Have Learned the Rule of How

question 71

True/False

In school, you may have learned the rule of how to determine the area of a circle. The formula was πR². This formula always guarantees a solution and that you will be able to determine the area. Thus, the formula is an example of an algorithm.

---

Definitions:

Manufacturing Overhead

All indirect costs associated with the manufacturing process, including salaries of non-direct labor, maintenance, and factory supplies.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Debit

An accounting entry that increases asset or expense accounts, or decreases liability, equity, or revenue accounts.

Credit

The provision of resources, such as money, goods, or services, with the expectation of future repayment, often with interest.