An Intended Effect of Business Legislation Is to _____________________

question 59

Multiple Choice

An intended effect of business legislation is to _____________________.

• A)restrict fair competition in the market
• B)encourage unbridled business behavior
• C)reduce the social cost of producing a particular commodity
• D)expose consumers to unfair trade practices
• E)protect companies from unfair competition

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Definitions:

Overapplied Overhead

A situation where the estimated manufacturing overhead cost is more than the actual overhead incurred during a period.

Value Chain

A model that describes the full range of activities needed to create a product or service, from initial conception through the various phases of production to the final customer.

Service Entity

An organization or a part of an organization that provides services to customers or internal partners.

Merchandising Entity

A type of business that purchases finished goods for resale, earning a profit by selling these goods at a higher price.