A Legal Limit on the Amount of Sugar Imported into the United

question 6

Multiple Choice

A legal limit on the amount of sugar imported into the United States is

• A) a tariff.
• B) a subsidy.
• C) a quota.
• D) a voluntary import restriction.

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Definitions:

Machine-Hours

A measure of production activity that quantifies the number of hours machines are operated in the manufacturing process.

Activity Rate

A measure used in activity-based costing to assign costs to activities based on their use of resources.

Activity-Based Costing

A methodology for costing that detects operations in a company and assigns the costs of these operations to all products and services in proportion to their true use.

Activity Cost Pools

A method in managerial accounting where costs are aggregated according to the activities that incur them, for more accurate allocation.