A Complete Accounting of the Costs of the Tax System

question 6

Multiple Choice

A complete accounting of the costs of the tax system would not include _____.

• A)compliance costs
• B)legislative costs
• C)administrative costs
• D)political costs

Distinguish between opportunity costs, sunk costs, and how they relate to decision-making.

Calculate the cost of goods manufactured and understand its impact on inventory and financial statements.

Understand and identify components of manufacturing overhead.

Calculate cost of goods manufactured.