As a Method of Resource Allocation,force

question 20

Multiple Choice

As a method of resource allocation,force

• A)plays a crucial negative role but not a positive role.
• B)plays a crucial positive role but not a negative role.
• C)plays a crucial role for both good and ill.
• D)is always better than majority rule.
• E)is always better than first-come,first-served.

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Definitions:

Operating Expenses

Expenses incurred during the ordinary course of business operations, including costs related to sales, administration, and general activities.

Net Income

The remaining revenue after all costs, expenses, and taxes have been subtracted from a company's total revenue; essentially, a company's profit.

Periodic Inventory

An inventory system in which the inventory count is conducted at specific periods, determining the cost of goods sold by beginning inventory plus purchases minus ending inventory.

Merchandise Inventory

Goods a company intends to sell to customers that are stored as inventory.