Ranmali Is a Professor at an Elite University

question 36

Multiple Choice

Ranmali is a professor at an elite university. Over the years, she has noticed that many students seem much more concerned with the letter grade they will receive than with the knowledge and skill acquisition the class requires. She also notices that many firms who are hiring graduates of her university are focused on special certificates and GPAs but ask few questions about the content of academic programs. These are both examples of:

• A) assimilation
• B) credentialism
• C) concrete attitudes
• D) abstract attitudes

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Definitions:

Net Income

The net income of a business following the subtraction of all costs and taxes from its earnings.

Absorption Costing

A costing method that integrates all expenses related to the manufacturing process, including direct materials, direct labor, and overhead costs, both variable and fixed, into the final product cost.

Required Rate

Often refers to the minimum expected rate of return on an investment, taking into account the risk level.

Markup

The amount added to the cost of a product to cover expenses and profit, resulting in the selling price.