What Is Meant by Privatization

question 48

Multiple Choice

What is meant by privatization?

• A) Privatization refers to the sale of nationalized industries to private companies.
• B) Privatization refers to the sale of private companies to the public sector.
• C) Privatization refers to the purchase of one private company by another private company.
• D) Privatization refers to the process of expanding the scale of operations to exploit

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Definitions:

Job-Order Costing

A cost accounting system that accumulates costs per job, rather than a process, suitable for firms that produce goods or services to specific customer orders.

Predetermined Overhead Rate

A rate calculated at the beginning of a period by dividing estimated total overhead costs by an estimated allocation base, used to apply overhead to products or services.

Automated Bandsaw

A type of bandsaw equipped with automatic features for cutting, which can enhance precision and efficiency in manufacturing processes.

Unused Capacity

The difference between a company's actual production and its maximum possible production without additional capital investment.