Which of the Following Is Not Correct

question 19

Multiple Choice

Which of the following is not correct?

• A)Government debt can continue to rise forever.
• B)If the government uses funds to pay for investment programs,on net the debt need not burden future generations.
• C)Social Security does not transfer wealth from younger generations to older generations.
• D)The average U.S.citizens' share of the government debt represents less than 2 percent of her lifetime income.

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Definitions:

Manufacturing Overhead

includes all the indirect costs associated with the production process, such as utilities, maintenance, and factory equipment depreciation, which are not directly traceable to a specific product.

Traditional Costing System

A costing methodology that assigns manufacturing costs to products based on volume metrics such as direct labor hours or machine hours.

Unit Product

A specific item or version of a product, distinct in unit size or configuration, produced by a company.

Direct Labor-Hours

The total time workers spend producing a product or performing a service, specifically those directly involved in manufacturing.