Working as an Elevator Operator Used to Be a Common

question 155

Multiple Choice

Working as an elevator operator used to be a common job in the workforce four decades ago, but today few jobs remain.The unemployment created by introduction of automatic elevators would be considered:

• A)wait.
• B)cyclical.
• C)frictional.
• D)structural.

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Definitions:

Budgeted Sales

Projected sales for a future period, estimated based on market analysis, historical data, and anticipated market conditions.

Ending Inventory

The aggregate value of merchandise ready for purchase at the conclusion of a financial period.

Opening Inventory

This is the value of inventory (raw materials, work-in-progress, and finished goods) at the beginning of an accounting period.

Production Budget

An estimate of the total cost of production, including direct labor, materials, and overhead expenses, for a specific period.