A Non-Current Asset Was Purchased for £21,000 on 1 January

question 1

Multiple Choice

A non-current asset was purchased for £21,000 on 1 January 2020. If it is depreciated using the reducing-balance basis at the rate of 40% per annum, the net book value of the asset at 31 December 2021 will be:

• A) £4,200.
• B) £7,560.
• C) £5,040.
• D) £12,600.

Understand the perspective of Hardt and Negri on contemporary global capitalism and their proposal for a counter-empire.

Recognize the shift towards immaterial, intellectual, and communicative labor as central in today's world of production, as seen by Hardt and Negri.

Apply Ritzer's concept of McDonaldization to analyze various work environments.

Distinguish between traditional Marxist views and contemporary theories on global exploitation and consumer culture.

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Definitions:

Economic Profit

is the surplus or gain realized when the total revenues generated by a business exceed the explicit and implicit costs of operation.

Average Total Cost

The sum of all production expenses divided by the amount of products made.

Units

Basic measures or quantities, such as length, mass, time, etc., that serve as standards for expressing and comparing quantities.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced.