Globalization Is a Term Used to Refer to the Changes

question 11

Multiple Choice

Globalization is a term used to refer to the changes taking place in the world economy, including all of the following except:

• A) trade among nations.
• B) multinational firms and conglomerates.
• C) privatization of economic institutions.
• D) all of the above.

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Definitions:

Sales Budget

A detailed schedule showing expected sales expressed in both dollars and units.

Direct Labor Budget

An estimate of the total direct labor cost for a future period, considering the projected demands for production or services.

Required Production

The quantity of goods a business needs to produce in a specified period to meet sales forecasts and maintain desired inventory levels.

Merchandise Purchases Budget

A detailed plan used by a merchandising company that shows the amount of goods that must be purchased from suppliers during the period.