Lori Cannot Wait for Her Son Oscar to Begin Primary

question 44

Multiple Choice

Lori cannot wait for her son Oscar to begin primary school so that she can return to paid work full-time.Which of the following functions of education will Lori be engaging in?

• A) an lateral function
• B) a manifest function
• C) a latent function
• D) a collateral function

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Definitions:

Fixed Expenses

Costs that do not change with the level of production or sales within a certain range and for a specific period.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Cost Behaviour

Refers to how a cost changes as the related level of activity or volume changes.

Fixed Expenses

Costs that do not change in total despite changes in the volume of goods or services produced or sold, such as rent or salary expenses.