Which of the Following L/Cs Is Safest for the Exporter

question 32

Multiple Choice

Which of the following L/Cs is safest for the exporter?

• A)revocable,confirmed L/C
• B)irrevocable,unconfirmed L/C
• C)irrevocable,confirmed L/C
• D)revocable L/C

Recognize the role of budgeted fixed overhead in controlling overhead costs.

Calculate variances for fixed and variable overhead costs.

Explain the significance of underapplied or overapplied overhead and its implications.

Understand the concept of standard costing and its criticisms.

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Definitions:

Actual Parameters

The actual values passed to a function upon invocation, as opposed to the placeholders in the function definition.

Function Declarator

A statement in C and C++ that specifies the name, return type, and parameters of a function.

Function Name

The identifier given to a function in a program, which is used to call and execute the described procedure or behavior.

Random-number Generator

A tool or function used in computing to produce a sequence of numbers that lack any discernible pattern.