Resources Are

question 29

Multiple Choice

Resources are

• A) unlimited.
• B) able to be replicated in large quantities.
• C) what people would buy if their income was unlimited.
• D) used to produce goods and services to satisfy people's wants.

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Definitions:

Assembly Hours

The total hours spent on the assembly stage of the manufacturing process, often used in costing and performance measurement.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing more accurate insights into the true costs of production.

Activity Rates

In activity-based costing, the cost allocation rate for each activity cost pool, allowing for more accurate product or service costing.

Customer Margin

The profit margin that is generated from a specific customer, calculated by subtracting the costs associated with serving that customer from the revenue earned from them.