What Is One Result of Globalization

question 13

Multiple Choice

What is one result of globalization?

• A)Free markets generally produced economic reforms around the world.
• B)Power was more evenly distributed in participating countries.
• C)American economic solutions for Latin American and African nations increased the overall standard of living.
• D)Economic growth in third world nations raised health and educational levels.
• E)The gap between the haves and have-nots widened.

Recognize the requirements and differences in inventory accounting and reporting under GAAP and IFRS.

Analyze the impact of different inventory valuation methods on financial statements and tax implications.

Understand the principles underlying the computation of new average costs in inventory valuation.

Identify the significance of inventory disclosures, including the basis of accounting and costing method.

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Definitions:

Robert Merton

An American sociologist known for his contributions to social theory, sociology of science, and the study of social structure and anomie.

Manifest Function

Clearly recognized and intended consequences of any social pattern or activity within a society.

Anticipated Outcome

The expected result or consequence of an action, process, or situation, often based on prior knowledge or hypotheses.

Dysfunction

The negative consequence of a social process that disrupts the operation of a system or organization.