Japan's Economic Successes Can Be Explained by All Except Which

question 41

Multiple Choice

Japan's economic successes can be explained by all except which of the following factors?

• A)Its abandonment of traditional Confucian values and the adoption of the values of Western individualism.
• B)Its tradition of Confucian values.
• C)World War II destroyed its industrial base, and thus, Japan did not face the problem of out-of-date manufacturing factories and equipment.

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Definitions:

Overapplied

Refers to a situation where the manufacturing overhead allocated to products is more than the actual manufacturing overhead incurred.

Underapplied

Describes a situation in cost accounting when the allocated manufacturing overhead costs are less than the actual overhead incurred, leading to a discrepancy that needs adjustment.

Job-Order Costing System

A costing system used to accumulate and assign costs to custom orders, projects, or jobs, typically in manufacturing or services.

Overapplied

When the overhead cost allocated to products exceeds the actual overhead costs incurred, requiring adjustment.