Why Is Dartmouth College V

question 22

Multiple Choice

Why is Dartmouth College v.Woodward an important case in CSR?

• A)It illustrates the important relationship between education and other societal institutions.
• B)It set the legal precedent that corporations are understood to be legal individuals.
• C)It established legal autonomy for educational institutions to teach controversial subjects such as the theory of evolution.
• D)It set the legal precedent of requiring state funding for public education.

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Definitions:

Job Order Costing System

An accounting system used to accumulate costs associated with a specific batch or order of production, suitable for businesses producing custom or unique products.

Service Firms

Companies that provide intangible products or services to customers, rather than physical goods.

Predetermined Overhead Rate

An estimated charge per unit of activity used to allocate manufacturing overhead costs to products or job orders, based on a set formula.

Machine Hours

A unit of measure representing the operational time of a machine, used in allocating costs based on how long machines are used in the production process.