English Philosopher John Locke Believed That the Main Purpose of Government

question 27

Multiple Choice

English philosopher John Locke believed that the main purpose of government was

• A) to defend against foreign enemies.
• B) to protect man's natural rights of life, liberty, and property.
• C) to raise taxes to build an army.
• D) to promote equality under the law.
• E) to promote religious separatism.

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Definitions:

Idle Capacity

Represents the condition where production resources are not used to their full potential, resulting in unutilized capacity.

Plantwide Overhead Rate

A single overhead absorption rate used throughout a manufacturing plant to allocate overhead costs to products.

Activity-based Costing

A costing method that allocates overhead and indirect costs to specific activities, providing a more accurate representation of the costs associated with producing a product.

Activity-based Costing

An accounting method where overhead and indirect costs are allocated to the corresponding products and services based on the required activities.