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Table 151 Suppose $1 Billion Is Available in the Budget and Parliament

question 41

Multiple Choice

Table 15.1
$\begin{array}{|c|c|c|c|} \hline & \text { Ivy } & \text { Jasmine } & \text { Rose } \\\hline \text { Subsidies for education } & \text { 2nd } & \text { 3rd } & \text { 1st } \\\hline \text { Research on Alzheimer's } & \text { 3rd } & \text { 1st } & \text { 2nd } \\\hline \text { Subsidies for daycare } & 1 \text { st } & \text { 2nd } & \text { 3rd }\\\hline\end{array}$
Suppose $1 billion is available in the budget and Parliament is considering allocating the funds to one of the following three alternatives: 1) Subsidies for education, 2) Research on Alzheimer's or 3) Subsidies for daycare. Table 15.1 shows three voters' rankings of the alternatives.
-Refer to Table 15.1.Suppose a series of votes are taken in which each pair of alternatives is considered in turn.If the vote is between allocating funds to education subsidies and increased subsidies for daycare,

Definitions:

Perpetual Inventory System

An approach to inventory accounting that directly records transactions of inventory sales or purchases through the use of computerized point-of-sale and enterprise asset management software.

Gross Method

An accounting method for recording purchases at the gross invoice amount before any trade discounts are deducted.

Merchandise Return

Goods returned to the seller from the buyer, often due to defects, dissatisfaction, or other reasons, impacting revenue and inventory levels.

General and Administrative Expenses

Costs related to the overall operations of a company that are not tied directly to a specific functional area like production or sales.