Figure 20-1 Number of Poor

question 371

Multiple Choice

Figure 20-1
Number of Poor
-Refer to Figure 20-1. Between 1959 and 2011 the poverty rate has

• A)increased overall.
• B)decreased overall.
• C)stayed the same overall.
• D)moved in the opposite direction of the number of people in poverty.

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Definitions:

Activity-based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate representation of product costs.

Direct Materials

Raw materials that are directly consumed in the manufacturing process of a product and are easily identifiable in the final product.

Unit Cost

The cost incurred to produce, store, and sell one unit of a product, calculated by dividing total costs by the number of units.

Cost Driver

A factor that causes the cost of an activity or process to change.