Which of the Following Statements Is True

question 110

Multiple Choice

Which of the following statements is true?

• A) Ecotourism is a major source of income for many developing countries.
• B) Hundreds of thousands of visitors flock to the Western Cape Province of South Africa each year to see the endemic plants.
• C) Most tourists visiting South Africa would pay more money for the opportunity to see the wild dogs.
• D) All of the above
• E) None of the above

---

Definitions:

Cost Of Production Report

A report prepared periodically by a processing department, summarizing (1) the units for which the department is accountable and the disposition of those units and (2) the costs incurred by the department and the allocation of those costs between completed and incomplete production.

Cost Of Goods Sold

The cost of finished goods available for sale minus the ending finished goods inventory.

Equivalent Units

A concept used in cost accounting to express the amount of work done by incomplete units in terms of fully completed units.

First-In, First-Out

An inventory valuation method that assumes the first items placed in inventory are the first sold.