Aulette Asserts,"We May Now Be at Another Monumental Turning Point

question 31

Multiple Choice

Aulette asserts,"We may now be at another monumental turning point in the economic,and thus social,organization of humanity." All of the following helped to create such a turning point EXCEPT:

• A)Expansion of socialism and communism in the world with increased dependence on U.S.businesses based in capitalism.
• B)Increased investment by U.S.businesses in other countries which moves jobs form the United States to places like Mexico and Central America.
• C)A shift in the economy from manufacturing to information and services,which leaves may workers unskilled to perform the jobs that are being created.
• D)The development of microelectronics,computers,and robotics.

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Definitions:

Warranty Costs

Expenses incurred by a company to repair, replace, or refund products that are found to be defective within the warranty period.

Sales

The total revenue generated from the sale of goods or services by a company during a specific period.

Trade Accounts Payable

Short-term liabilities owed to suppliers for goods or services purchased on credit.

Gross Method

An accounting practice where purchases are recorded at their gross invoice amount before any trade discounts are applied.