The Program Begun in 1938 Under the Franklin Roosevelt Administration

question 95

Multiple Choice

The program begun in 1938 under the Franklin Roosevelt administration that provides medical care for the poor,those on welfare,and for the disabled is called.

• A)Medicare
• B)Medicaid
• C)Health Maintenance Organization
• D)Social Security

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Definitions:

Absorption Costing

By adopting this accounting model, all manufacturing costs including direct materials, direct labor, and both variable and fixed overheads, are rolled into the product’s cost.

Required Return

The minimum profit or yield that investors expect to earn on an investment.

Unit Product Cost

The cost to produce a single unit of product, accounting for direct materials, direct labor, and overhead on a per-unit basis.

Absorption Costing

An accounting method that includes all direct costs and fixed and variable overhead costs in the cost of a product.