Karl Marx's concept of a communist economic system based on the philosophy "from each according to his abilities, to each according to his needs" sounds noble on paper
In practice, what core aspect of communism has led to the global collapse of this system?
A) high taxes
B) welfare state
C) lack of incentive
D) central planning
E) exploitation
Answer: C
Explanation: C) Because everyone is rewarded according to his or her needs under communism, there is no incentive to work hard, expand resources, and create wealth.
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_____ are printed forms of memos used to channel messages to specific people within organizations
Fill in the blank(s) with correct word
Likes Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$495,040 Budgeted production (a) 35,000unitsStandard hours per unit (b) 1.70machine-hoursBudgeted hours (a) × (b) 59,500machine-hours Applying Overhead: Actual production (a) 30,000unitsStandard hours per unit (b) 1.70machine-hoursStandard hours allowed for the actual production (a) × (b) 51,000machine-hours Total actual manufacturing overhead$498,000 Actual hours 52,000machine-hoursThe total amount of
manufacturing overhead applied is closest to: A. $424,320 B. $498,000 C. $432,640 D. $488,400
When a seller allows a buyer thirty to sixty days to pay for a purchase, the sales arrangement is called
A. a bank loan. B. trade credit. C. a promissory note. D. equity financing. E. None of these answers is correct.
_____ is the process of determining what the external customer is willing to pay for a product or service and then assigning specific cost targets to the components, assemblies, and systems that make up the product or service
a. Specific costing b. Target pricing c. Total cost analysis d. Cost avoidance e. None of the above.