According to Modernization Theory, Which Societal Characteristics Are Necessary for Development

question 107

Multiple Choice

According to modernization theory, which societal characteristics are necessary for development?

• A)openness to change
• B)values embracing entrepreneurship
• C) values embracing cooperation
• D) an impoverished environment

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Definitions:

Standard Costs

Predetermined costs for products or services, used as a benchmark for performance evaluation.

Direct Labor-Hours

Overall working hours expended by personnel directly engaged in the production of goods or delivery of services.

Materials Quantity Variance

The difference between the expected and actual quantity of materials used in production, reflecting efficiency in materials usage.

Direct Materials Purchases Variance

is the difference between the actual cost of direct materials purchased and the expected cost under standard costing.