Because no one can have an unending supply of anything, all resources are limited. There will eventually be a limit. Hence economics say all resources are scarce.
Economic resources are rare for more reasons than just their scarcity. It is not independent. It must be compared to other ideas, such as needs and wants. Because there aren't enough resources to meet all of our needs and wants, there is scarcity. Alternative economic options arise because of scarcity. Then, economists develop numerous hypotheses about how to make these decisions in order to achieve the best results. Finally, they attempt to understand and study the nature of the choices that economic agents, such as consumers and producers, confront using a variety of theories and methodologies.
Our wants and needs are endless. We do not have enough resources to fulfill them, though. Then scarcity emerges. Therefore, the explanation for scarcity is that there isn't enough of it to satisfy an endless need. Scarcity, as well as economics, would not exist if our needs and wants were unending.
Money and time are only two examples of the many forms that resources may take. In contrast, it simply refers to the resources utilized to create commodities and services in economics. In addition, economics connects wants and needs to available resources. Economic decisions regarding how to distribute resources to their best use are influenced by scarcity.
Economists create theories of consumer choice and production possibility curves in microeconomics. Consumer choice theory, for instance, describes how customers optimize their happiness by taking their budget into account.
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The adjustment for overapplied overhead ______ net income. Multiple choice question. increases both cost of goods sold and decreases both cost of goods sold and increases cost of goods sold and decreases decreases cost of goods sold and increases
The adjustment for overapplied overhead decreases cost of goods sold and increases net income.
Net income refers to the amount of money a company earns after all expenses and taxes have been subtracted from its total revenue. It is also known as "net profit" or "bottom line." This figure is used to measure a company's financial performance and is important for investors and analysts to consider when evaluating a company's overall health.
Overapplied overhead happens when costs caused are not as much as what an organization represents in its financial plan. This implies that an organization comes in under financial plan and accomplishes a lower measure of above costs during the bookkeeping time frame.
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The industrial group VAN DAM shows a net result, 80% of which is from its financial income. State your views.
I believe it is a positive indicator that the VAN DAM industrial group derives 80% of the net result from its financial income. It shows that the business is able to generate revenue and profit through its financial investments, which is a sign of good financial health.
However, it is important to remember that financial income is not the only source of income for a business, so it is important to consider other sources of income. It is also important to understand the reasons why a business is able to generate such a high percentage of its income from its financial investments. This can help identify strategies and areas of focus that can help the business grow and diversify its revenue streams.
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What resources do consumers typically have in limited supply that forces them to make trade-off decisions in consumption
The resources are time, money and attention.
An individual who purchases goods and services from a vendor is referred to as a consumer. Although human desires are limitless, the resources required to fulfil them are scarce. As a result, consumers are forced to choose a trade-off.
The opportunity cost of a decision is a trade-off. When a consumer decides to consume one good over others, they are giving up an option. Consumers who are rational would pick the good that provides the most utility.
Consider a consumer who has $100, for instance. The buyer can choose between buying pants or an economics book with the money. The option with the higher utility would be picked by the customer. This is a case of a trade-off.
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Which of the following statements is true regarding an import-oriented distribution structure?
A. The importer-wholesaler traditionally performs most of the marketing functions.
B. The relationship between the importer and any middleman is similar to that found in a mass-marketing system.
C. Several independent agencies providing functions such as advertising, marketing research, financing are part of this distribution structure.
D. The idea of a channel as a chain of intermediaries performing specific activities is common.
E. This distribution system is national in scope.
A. The importer-wholesaler traditionally performs most of the marketing functions.
What happens in an import-oriented distribution structure?In an import-oriented or traditional distribution structure, an importer controls a fixed supply of goods, and the marketing system develops around the philosophy of selling a limited supply of goods at high prices to a small number of affluent customers.
What are the advantages of import oriented economy?Advantages of Importing:
Also the importer can have the much cheaper products from the foreign market due to low labor cost, low taxes etc. in terms of quality, the importer can have the higher quality goods and produce the finished goods with high quality and extend the business profit margins.
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The current price of Telecom RSP is $50, and you want to purchase $10,000 of its stock on a 50% margin. The broker call loan rate is 8%. Assuming Telecom pays no dividends, what will be your return on investment if Telecom goes up 10%? What is the minimum price Telecom can hit before you receive a margin call?
Your return on investment is 8%, because the loan rate is 8%.
What is investment?Investment is the process of putting money into an asset or business with the expectation of making a return, usually in the form of interest, dividends, or capital gains. Investment can also refer to the purchase of goods or services that are expected to appreciate in value.
The initial margin requirement is 50%, so you need to borrow $5,000 to purchase the $10,000 worth of stock. The interest rate on the loan is 8%, so the interest you pay on the loan is ($5,000 x 8%)/2 = $200.
If Telecom goes up 10%, the stock price increases from $50 to $55. You will make a profit of ($10,000 x 10%)-$200 = $800.
The minimum price Telecom can hit before you receive a margin call is $45. This is because the initial margin requirement is 50%, so the stock price must stay above $45 ($10,000 x 50%) for you to not receive a margin call. If it drops below $45, then you will receive a margin call.
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Don is a shareholder of Energy Renew Inc. When the directors fail to undertake an action to redress a wrong suffered by the firm, Don files a suit on its behalf. Don's suit is
Don's suit is derivative suit.
A shareholder secondary suit is a action brought by a shareholder on behalf of a pot against a third party. frequently, the third party is an bigwig of the pot, similar as an administrative officer or director. Shareholder secondary suits are unique because under traditional commercial law, operation is responsible for bringing and defending the pot against suit. Shareholder secondary suits permit a shareholder to initiate a suit when operation has failed to do so. To enable a diversity of operation approaches to pitfalls and support the most common forms of commercial rules with a high degree of admissible operation power, numerous authorities have enforced minimal thresholds and grounds( procedural and substantial) to similar suits.
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The ________ states that a drawer or maker is liable on a forged or unauthorized indorsement if the person signing as or on behalf of a drawer or maker intends the named payee to have no interest in the instrument or when the person identified as the payee is a fabricated person.
The fictitious payee rule states that a drawer or maker is liable on a forged or unauthorized indorsement.
What is the rule for a fictitious payee?A commercial law principle known as the "fictitious payee rule" states that a forgery of the payee's name will be able to transfer good title to subsequent transferees if a drawer or maker issues commercial paper to a payee who the drawer or maker does not actually intend to have any interest in the instrument.
Why is a fake instrument considered a bearer instrument when it is payable to a real person?When an instrument is "payable to the order of a fictitious or non-existent person and such fact was known to the person making it so payable," it is considered payable to the bearer. "s In the early cases, rather than the agent, the instrument's drawer provided more frequently than in later cases.
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What are the 4 types of assets?
There have previously been three main asset classes, however today's financial experts widely concur that there are four major asset classes:
Equities (stocks)
debt and fixed income (bonds)
Cash equivalents and money markets.
Real estate and material possessions.
Which financial asset classes are the safest?Financial assets, sometimes referred to as financial instruments or securities, are an example of intangible assets. They are widely used as a means of financing the purchase of moveable assets like machinery and real estate. Some of the safe asset categories that have traditionally been utilized often include real estate, cash, Treasury bills, money market funds, and mutual funds that invest in U.S. Treasury securities. Risk-free investments, such as national debt instruments issued by industrialized country governments, are considered the safest investments.
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if one u.s. dollar equals one e.u. euro, which of these could result if the euro experiences inflation?
If the value of one US Dollar is equal to that of one EU Euro, then an inflation would be a result of the situation wherein the citizens of the United States purchase more goods from the European Union at lesser monies. Therefore, the option C holds true.
The inflation is usually understood as a concept that leads into increase in the prices of goods in an economy, and thereby leading to a decrease in the purchasing power of the consumers who belong to that economy. The above condition represents the situation of an increase in the rates of inflation in the European Union.
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Complete question
If one U.S. dollar equals one euro, which of these could result if the euro experiences inflation?
E.U. citizens could purchase more goods in the U.S. for less money.
E.U. citizens would purchase large amounts of U.S. stock.
U.S. citizens would purchase more goods from the E.U. for less money.
U.S. citizens would purchase large amounts of E.U. stock.
Answer:
C) U.S. citizens would purchase more goods from the E.U. for less money
Explanation:
I got it right on the test
what are the tangible and intangible qualities that a company builds into its products?
Product Features are the material and immaterial attributes that a firm incorporates into its products.
What do product features entail?Product features are specific, updated functional aspects of a product that add value for your customers. Features of a product can include attributes, elements, user interface layouts, and performance improvements.
Ownership of the final product and the product plan rests with the product managers. A significant portion of the role entails assessing, specifying, and prioritizing features. Other details that features may include include timing, status, and assignees, however you should normally be aware of each of them for any specific feature. In the process of developing new products, businesses create new features to satisfy consumer demands and improve end users' experiences. Design, quality, utility, and other characteristics of a product
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Explain how various economic factors contributed to the development of the global economy from 1750 to 1900.
The expansion of empires and the growth of industrial capitalism have greatly increased global exchanges.
Corporations in developed countries benefited from imperialist power over the rest of the world, especially by encouraging colonized and dependent territories to concentrate on exporting goods.
Commodities are often raw materials or agricultural products such as oil, gold, wheat and coffee, but also include capitalism processed products such as steel and textiles.
Commodities are bought and sold on commodity markets where prices are determined by supply and demand. Commodity prices tend to fluctuate due to factors such as changes in demand, weather and political events.
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pyramids were designed to be ?
A.regional palaces
B. temples
C. government
D. tombs
Answer:
D
Explanation:
tombs
Answer:
D
Pharoahs needed to be buried under the pyramids, which would make them tombs
How did Adam Smith economic ideas help the United States establish a free enterprise system?
Check the boxes that apply to you. For consumers and producers, they resulted in freedom of choice. For consumers, they sparked free competition.
What was Adam Smith's impact on the economy?Smith was the first to recognise that economics should also focus on how wealth is distributed, in addition to how it is produced. His theories were largely responsible for England's success in overturning the Corn Laws and rising to the top economic position in Europe during the Industrial Revolution. Adam Smith was one of the first thinkers of his era to assert that money is produced via labour that is productive and that people are motivated by their own interests to use resources as efficiently as possible. Profits, in his view, resulted from capital investments, and capital is allocated where the greatest potential for profit exists. Smith criticised the role of government in the economy and offered a plan for free trade and markets. Later on, these two tenets would come to represent contemporary capitalism.To learn more about Adam Smith refer to :
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A rental house has a monthly income of $1,300. A suitable gross rent multiplier derived from market data is 142.5 What estimated sale price (to the nearest $1,000) is indicated
It is wrong to determine a company's gross income as sales less returns and discounts.
Gross revenue is the amount generated by a business before any costs are subtracted, whether they are one-time expenses like the cost of items sold, which are directly associated with a particular product, or ongoing expenses like the salary of administrative employees. The sum of a company's sales during a certain time period is, in essence, its gross income. The difference between a company's gross revenue and its cost of goods sold is its gross income (COGS). If a business reported product sales of $500,000 and manufacturing costs of $100,000, its gross income would be $400,000. It is wrong to determine a company's gross income as sales less returns and discounts.
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Deena needs to have her mother be a co-signer on a loan for a new boat. If Deena makes one late payment, what may happen
If the borrower defaults, the co-signer may be required to pay any missing payments as well as the entire loan balance. If the borrower makes payments late, the co-credit signer's may also suffer.
Is a co-signer susceptible?If you're a co-signer, the following typical ways could have an impact on your credit score: Late or missed payments: If the primary account holder fails to make payments, the co-signers are obligated to do so. Your credit rating could be affected if the consignee fails or makes late payments.
What privileges do I have as a cosigner?You don't acquire ownership rights to the home, automobile, or even other security that now the loan is used to purchase by signing on as a co-signer. As the financial guarantor, you are responsible for seeing that the loan is repaid in the event that the primary borrower is unable to.
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The total expenses of organizing a party has a fixed expense of $250 as the rent of the place where the party is to be organized and a variable expense depending on the number of guests attending the party. For 10 guests the total expense was estimated to be $650. What is the estimated total expense for 20 guests
The total cost for a 45-person private party at the restaurant is $775. Medicare is broken into several segments based on what each part covers.
It is described as the relationship between two variables, and a straight-line result from plotting the graph of the linear equation. If there is just one variable included in the equation, it is referred to as a linear equation in one variable. In third-party-payer markets, there are differences between the parties who get the commodities and those who make the payment. Currently available platforms called third-party marketplaces allow vendors to offer their products or services for sale on a third party's website or application. The largest third-party payer, Medicare, is provided by the federal government. Medicare is broken into several segments based on what each part covers.
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When President Obama tried to influence the economy by cutting taxes and increasing government spending, he was applying ___ .
President Obama was implementing monetary policy when he tried to affect the economy by reducing taxes and government spending government expenditure.
How does monetary policy work?The Federal Fed's actions and utterances to advance healthy economic growth, stable prices, as well as moderate long-term interest rates—the three economic objectives that the Congress has directed the Federal Reserve to pursue—combine to form monetary policy within the United States.
What is an example of monetary policy?Implementing monetary policies The Fed will add money to the reserves as banks are required to maintain with it if, for instance, it purchases or borrows Treasury notes from commercial banks. In turn, the money supply increases.
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Which of the following measures would not help managers to control and improve operations?
a) units produced per time period
b) cost trends of a product
c) yield trends
d) commissions paid per time period
The commissions paid per time period of the following measures would not help managers to control and improve operations.
What is the cost?A cost is the amount of money that has been spent to produce something or provide a service and is thus no longer accessible for use. In business, the cost could be one of acquisition, in which case the money spent to obtain it is recognized as cost. In this situation, money is the input that is used to purchase the item.
The term refers to that commissions paid per time period pay commission monthly, quarterly, or annually. A business may want to wait until the sales contract is signed and finalized.
Therefore, Thus option (D) is correct. As commissions paid per time period may not help the managers to control or improve.
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19) Which statement BEST describes how Georgia's waterway systems serve as social transportation systems
Georgia's waterway systems, which include ports and rivers, serve as social transportation systems by constructing national infrastructure that supports domestic and international trade, business, and leisure. In recognition of this critical purpose, the federal government has assumed responsibility for the creation, maintenance, and secure operation of shipping channels.
How have the nation's mountain and river systems influenced the development of the United States?
The United States' waterways and mountains, like the rest of the world, have had a significant impact on where people settled and how towns and cities interacted with one another. Because of the relative isolation and shared geography created by mountain ranges, large mountain ranges served as natural barriers between groups, resulting in the development of distinct regional shared cultures. Rivers, on the other hand, linked communities through ease of travel, trade, and shared access to water and other natural resources.
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Rent is an example of a(n) _____.
A-fixed cost
B-opportunity cost
C-variable cost
D-none of the above
Rent is an example of a fixed cost
how should the entries to a schedule of accounts payable be ordered
a. by date received
b. alphabetically by vendor name
c. by amount due from most to least
d. by date due
The entries in a schedule of accounts payable would be ordered alphabetically by vendors name.
What is the use of a schedule of accounts payable?A schedule of accounts payable is a list of all the vendors in the ledger of accounts payable to whom the business is currently indebted, together with the balances of their current accounts. In other words, the accounts payable schedule is a list of everyone to whom the company owes money in the accounts payable systems in alphabetical order.
There are two key benefits to using the accounts payable schedule. This schedule, first and foremost, enables managers as well as the accounts payable division to keep track of and arrange the vendor accounts that need to be paid. For instance, the majority of manufacturers and retailers purchase inventory and products from other companies.
Cash payments for these transactions are uncommon. Instead, the buying business merely places the acquisition on credit and pays the vendor within 30 days well after purchase. This technology accelerates corporate operations and makes it simpler for enterprises to purchase things.
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Answer: d. by date due
Explanation: I just took the test.
The move by Philip Morris International (PMI), the industry-leading tobacco company, to invest billions in creating a smoke-free future is an example of
The move by Philip Morris International (PMI), the industry-leading tobacco company, to invest billions in creating a smoke-free future is an example of strategy innovation.
A business's goals for innovation, value delivery, and competitive advantage are met through using resources in accordance with an strategy innovation. An examination of a company's technology and competitive environment should be part of every strategy. its prospects and challenges from outside. The goal of innovation is to produce new value, such as fresh approaches to adjust to shifting sectors or address pressing social, health, or economic issues. A strategy is a plan that explains in great detail how you will realise your goal. An organisation must be able to use the technology in creative ways. Businesses that can't expand in this constantly shifting world risk failure. Therefore, one of the most crucial elements of a firm is its strategy.
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Which of the following interest-free loans would result in imputed interest between the parties to the loan when the federal rate is 5%?George borrows $12,000 from his employer, Pelican Fisheries, Inc., to pay education expenses for his daughter, and George has investment income in the same year of $330.Carla lends her friend, Lois, $8,000 to buy a house generator, and Lois has investment income of $2,200 for the year.Hope borrows $120,000 from her father for an addition to her home. Hope has $4,600 in investment income in the same year.Prakash lends his wife, Smita, $50,000 to start a small business from home
Option D is the correct option.
Gift loans cover loans between friends and family, but not between couples. Additionally, loans under $10,000 will not be subject to this rule as long as they are not for assets that generate revenue.
You could decide to lend money to a relative who is beginning a company. It's a good idea to document and arrange any loans you consider giving to family members so that everyone is on the same page. You understand what is best for your family, in any case.
In most situations, a "loan" that the IRS regarded as a gift will not require you to pay taxes. Only when your lifetime donations to all recipients surpass the lifetime gift tax exception do you become liable for gift taxes. That cap is $11.7 million for tax year 2021 (rising to $12.06 million in 2022). That indicates that most individuals are secure.
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Note the correct question would be as bellow,
Which of the following interest-free loans would result in imputed interest between the parties to the loan when the federal rate is 5%?
A)George borrows $12,000 from his employer, Pelican Fisheries, Inc., to pay education expenses for his daughter, and George has investment income in the same year of $330.
B)Carla lends her friend, Lois, $8,000 to buy a house generator, and Lois has investment income of $2,200 for the year.Hope borrows $120,000 from her father for an addition to her home.
C)Hope has $4,600 in investment income in the same year.
D)Prakash lends his wife, Smita, $50,000 to start a small business from home
At a student government fundraiser, a notebook costs $7 and a t-shirt costs $12. if the total received for 60 items was $540, how many notebooks were sold?
a. 24
b. 30
c. 36
d. 40
The price of a notebook is $7, while the price of a t-shirt is $12, during a student government fundraiser. If 60 products were sold for a total of $540, 36 notebooks were sold.
Explain about the Sales?A sale is a transaction in which commodities or services are exchanged for cash along with additional considerations. In other words, a sale is any action that involves giving the buyer ownership of a product in exchange for cash.
Sales refer to any transactions where money or value is exchanged for the right to own a good or access to a service, as utilised in regular company operations. In the context of accounting, sales refer to the revenue a business generates from the sale of goods or services (net sales).
Your sales team can complete a sales cycle by adhering to a series of critical steps known as a sales process.
Let x represent the quantity of sold notebooks and y represent the quantity of sold t-shirts. The following equations are then present:
x + y = 60 I ( i )
7x + 12y = 540 (ii)
Using the elimination procedure, we can find the values of x and y.
In order to remove x, we can multiply the first equation, x+ y =60, by -7and then add it to the second equation:
-7x - 7y = - 420
7x + 12y = 540
——————————-
0x +5y = 120
Next, multiply both sides by 6 to obtain y:
y = 120/ 5
y = 24
In order to obtain x, we can now enter y = 10 into the first equation:
x +24 =60
x = 60- 24
x = 36
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Agent Mary forgot to complete a sales contract rider. This resulted in a $300 loss for her client. Agent Mary's actions can be described as
A sales contract rider was incomplete because of Agent Mary. Her client suffered a $300 loss as a result of this. Agent Mary behaved in a negligent manner.
What word best sums up agency?An agency is a legal arrangement whereby one person, the principal, appoints another person, the agent, to act on their behalf and gives them the authority to carry out any legal actions that the principal may carry out on their own.
What obligations do agents have under the Indian Contract Act?An "agent" is a person who is hired to perform any task for another or to speak on another person's behalf. The term "principal" refers to the person for whom the act is performed or who is so represented.
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Resurfacing a particular section of highway would result in cost of maintenance savings of $500 per year for the first five years and $1,000 per year for the next five years. If maintenance costs are the only consideration, the maximum amount to spend now on the project at 6% interest is __________. $5,395 $5,254 $5,453 $5,085
An initiative of the United Nations Economic and Social Council, the Asian Highway Network is often referred to as the Great Asian Highway.
To simplify gradient-based training of very deep networks, a network architecture known as a highway network is developed. They enable unrestricted information flow across several layers on "information highways." The design is determined by the use of gating units, which can be taught to manage the information flow through a network. In summary, a good road network makes it possible for people to travel more quickly and effectively by improving accessibility to areas and bringing people closer together. The Great Asian Highway, commonly known as The Asian Highway Network, is a program of the UN. The United Nations Economic and Social Commission for Asia and the Pacific, countries in Asia, and governments in Europe launched the Asian Transportation Network.
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If an advertiser doesn't want to add remarketing tags to a website, why would Customer Match be a good fit for them? 9680179
If an advertiser doesn't want to add remarketing tags to a website, Customer Match would be a good fit for them from your ad accounts and campaigns.
Remarketing is defined as to engaging audiences who have already interacted with your brand, to encourage them to take a desired action that may interest them, such as conversion. Like, products to their shopping cart.
The match of customer feedback is the best fit by the using data from your advertisement accounts. It saves the amount of money in the new ads and marketing strategy due to the customer match it helps to find the problem.
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How do multinational corporations share their resources and what are their reasons for selecting that medium
multinational corporations share their resources and what are their reasons for selecting that medium 1=online database and 2=reduces costs.
MNC, or multinational corporation If a corporate entity owns and controls the production of goods or services in at least one country other than its home country, it is referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation, or a stateless corporation with nuanced but contrasting meanings. For an MNC to be distinguished from foreign portfolio investment firms, such as some international mutual funds, which invest in foreign enterprises solely to diversify financial risks, control is regarded as a crucial component. A business or organization should be considered a multinational corporation "if it receives 25% or more of its revenue from out-of-home-country operations," according to Black's Law Dictionary.
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The complete question is here:
Select the correct answer from each drop-down menu.
How do multinational corporations share their resources and what are their reasons for selecting that medium?
Multinational corporations use _1_ to share their resources with all their employees because it _2_
Which organization provides voluntary testing and labeling for products that meet their quality guideline
The USP organization offers optional testing and labeling for goods that adhere to their quality standards.
The United States Pharmacopeial Convention, a nonprofit organization that also owns the trademark and copyright for the pharmacopeia itself, publishes a pharmacopeia for the United States each year under the name United States Pharmacopeia (USP). The USP-NF, which combines the USP with the National Formulary, is published. A drug ingredient or drug product must adhere to the relevant USP quality standard in order to carry the designations "USP" or "NF." Animal and human medications must meet USP standards. If a medication or a component of a medication with a name specified in USP-NF does not satisfy compendial standards for strength, quality, or purity, it is considered contaminated. Federal law in the US also takes into account USP-NF norms.
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Which of the following industries would be most likely to use a job costing system?
A. Commercial building construction
B. Food and Beverage
C. Chemicals
D. Pharmaceuticals
Commercial building construction industries would be most likely to use a job costing system. so correct answer is A.
A Costing System: What Is It?In order to keep track of a company's expenses, a costing system was created. The system consists of a number of forms, procedures, checks, and reports that are made to compile and provide management with information on profits, expenses, and revenues. Lean accounting, activity-based costing, standard costing, and marginal costing are some examples of cost accounting types. The traditional costing system and the activity-based costing system are the two fundamental costing methods that assist in identifying all direct and indirect costs so you can determine prices with accuracy.
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