Uniformitarianism Is Succinctly Summarized by Which Phrase

question 39

Multiple Choice

Uniformitarianism is succinctly summarized by which phrase?

• A) The future is the key to the present.
• B) The present is the key to the past.
• C) The past is the key to the present.
• D) The present is the key to the future.

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Definitions:

Materials Quantity Variance

The variance between the real amount of materials consumed in the production process and the anticipated standard amount, times the standard unit cost.

Direct Materials Purchases Variance

A measure used in accounting to analyze the difference between the budgeted cost of materials needed for production and the actual cost incurred.

Actual Production

The real quantity of goods or services produced in a specified period, as opposed to planned or expected production levels.

Labor Rate Variance

The difference between the actual labor costs incurred and the standard labor costs expected for the labor hours worked.