Local Markets and National Borders Are No Longer Impassable Barriers

question 54

Multiple Choice

Local markets and national borders are no longer impassable barriers to business,thanks in part to

• A)currency exchange rates.
• B)culture.
• C)transportation technologies.
• D)exports.
• E)better international communication skills.

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Definitions:

Cost of Goods Manufactured

The total expense incurred in manufacturing goods, including materials, labor, and overhead, up to the point of completion.

Raw Materials

Primary components used to produce or fabricate products.

Direct Labor

The wages and expenses directly associated with workers who physically produce goods or provide services.

Work in Process Inventory

Represents goods that are in the process of being manufactured but are not yet completed.