If a Sawmill Creates Too Much Noise for Local Residents

question 7

Multiple Choice

If a sawmill creates too much noise for local residents,

• A)noise restrictions will force residents to move out of the area.
• B)a sense of social responsibility will cause owners of the mill to reduce noise levels.
• C)the government can raise economic well-being through noise-control regulations.
• D)the government should avoid intervening because the market will allocate resources efficiently.

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Definitions:

Voucher System

An internal financial control system for managing disbursements and ensuring all transactions are properly documented and approved before payments are made.

Periodic Inventory Method

An accounting method where inventory is physically counted at the end of each period to determine the cost of goods sold and ending inventory.

Petty Cash Fund

Fund (source) that allows payment of small amounts without the writing of checks.

Approved Voucher

A document or record that authorizes a payment and confirms that goods or services have been received and are satisfactory, ready for payment processing.