One of the Most Important Contributions Made by Gupta Intellectuals

question 50

Multiple Choice

One of the most important contributions made by Gupta intellectuals was the development of "Arabic numerals" and the

• A) concept of zero.
• B) astronomical telescope.
• C) development of a written Indian language.
• D) invention of the maritime compass.
• E) invention of gunpowder.

Interpret the financial differences between absorption and variable costing in terms of inventory valuation and profit measurement.

Understand the principles and methodologies for allocating manufacturing overhead costs.

Appreciate the differences and applications of direct, step-down, and reciprocal methodologies in cost allocation.

Comprehend the concept and importance of cost drivers in product costing systems.

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Definitions:

Situational Attribution

The process of explaining someone's behavior based on external factors or the context of the situation rather than on internal characteristics.

Milgram's Study

A landmark psychological experiment conducted by Stanley Milgram which demonstrated people's willingness to obey authority, even to the extent of causing harm to others.

Obedience

The act of following orders or guidelines set by others, often studied in psychology as a facet of social influence.

Cognitive Schema

Mental structures that an individual uses to organize knowledge and guide cognitive processes and behavior.