Define the Terms Technical Feasibility and Organizational Feasibility

question 73

Essay

Define the terms technical feasibility and organizational feasibility.

Understand the principles of budgeting in healthcare and service industries.

Learn how to prepare a planning budget based on projected activity levels.

Learn how to prepare a flexible budget based on actual activity levels.

Gain the ability to calculate and interpret variances from budget, both favorable and unfavorable.

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Definitions:

Pure Communism

An idealized form of communism in which there is no need for a state and goods are distributed according to people's needs.

China

The world's most populous country, with a complex economy that is one of the largest globally and a rich cultural history.

Soviet Union

A former federal socialist state in Eastern Europe and Northern Asia, existing from 1922 until its dissolution in 1991, comprising multiple Soviet republics.

Communist System

A political and economic system aiming for a classless society, where the means of production are owned and controlled by the community as a whole.