__________ Is the Most Populous Country in Africa, with Over

question 58

Multiple Choice

__________ is the most populous country in Africa, with over 140 million people. It has over 250 ethnic groups, with the largest being the Fulani, Hausa, Yorúbà, and Igbo.

• A) Nigeria
• B) Egypt
• C) Ethiopia
• D) South Africa
• E) Kenya

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Definitions:

Cost of Goods Sold

The total cost directly associated with producing goods which have been sold, including materials and labor.

Work in Process Inventories

Items in a manufacturing process that are not yet completed products, including raw materials, labor, and overhead costs.

Standard Cost Variances

refer to the differences between the expected (standard) costs and the actual costs incurred.

Standard Cost System

A cost accounting system that assigns expected costs to each product or service, facilitating variance analysis between expected and actual costs.