Enrique Accesses Finance Bank's Computer System Without Authority to Obtain

question 9

Multiple Choice

Enrique accesses Finance Bank's computer system without authority to obtain protected financial records. Under federal law, this is

• A)a felony if it was done for a commercial purpose.
• B)a felony if the bank brings a civil suit against Enrique.
• C)not a crime.
• D)a crime but not a felony.

Identify when an economic activity should or should not be undertaken based on its costs and benefits.

Distinguish between different standards (e.g., majority vote, economic efficiency) used to evaluate economic activities.

Understand the basic principles of supply and demand and how they relate to market equilibrium.

Differentiate between elastic and inelastic demand and supply and their impacts on tax burden distribution.

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Definitions:

First-Stage Allocations

The process of assigning overhead costs to different departments or cost pools as a first step in allocating costs to individual products or services.

ABC System

Refers to Activity-Based Costing System, a method of assigning costs to products or services based on the resources they consume.

Activity Cost Pools

Pools of indirect costs in accounting, classified according to the activities that drive those costs.

Traditional Costing Systems

A method of accounting that allocates overhead costs based on a predetermined rate, often not capturing the actual costs of production accurately.