Utilitarianism Refers to

question 4

Multiple Choice

Utilitarianism refers to

• A)the idea that the goal of society should be the greatest good for the greatest number
• B)the idea that people with the greatest utility to society as a whole should benefit the most from policies
• C)the study of electricity, water and sewage systems
• D)both a and b

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Definitions:

Perpetual LIFO Method

The perpetual LIFO (Last In, First Out) method is an accounting technique for inventory valuation where goods are assumed to be sold in the reverse order they were acquired, continuously adjusting inventory value.

Income Before Taxes

The profit a company generates before accounting for taxes, used to assess the operational efficiency of a business.

Income Taxes

Taxes imposed by the government on the income generated by individuals or entities.

Days' Sales

Often refers to the average number of days it takes for a company to collect revenue after a sale has been made.