Use the Following to Answer the Questions Below

question 43

Multiple Choice

Use the following to answer the questions below:
In each of the following multiple-choice questions, characterize EACH of the three given statements as being TRUE or FALSE and then indicate the collective true-false status of the statements using the choices:
-Statements: (1) The first letter in a chemical symbol is always the same as the first letter in the element's name.
(2) Two element's account for over 75 percent of the atoms in the Earth's crust.
(3) The limit of chemical subdivision for a compound is a molecule.

• A) All three statements are true.
• B) Two of the three statements are true.
• C) Only one of the statements is true.
• D) None of the statements is true.

---

Definitions:

Equipment Expense

The cost associated with purchasing or maintaining equipment necessary for the operation of a business.

Activity Rate

A ratio used in activity-based costing to allocate costs to products or services based on the number of transactions or events.

Processing Activity

The actions or operations conducted on raw materials to transform them into finished goods in the manufacturing process.

Activity-Based Costing

An approach to costing that pinpoints various activities in a company and distributes each activity's costs to every product and service based on their actual consumption.