Which of the Following Statements Is TRUE with Respect to Municipalities

question 44

Multiple Choice

Which of the following statements is TRUE with respect to municipalities?

• A)Most municipalities are created by the federal government,rather than by provincial governments.
• B)A municipality is created when a higher level of government passes a by-law.
• C)Cities are municipalities,but towns are not.
• D)Laws that are created by municipalities are called subordinate legislation.
• E)Some types of subordinate legislation have nothing to do with municipalities.

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Definitions:

Setup Costs

Expenses associated with configuring machinery or equipment for a specific production run or job, influencing production planning and inventory management.

Inventory-Related Costs

Expenses associated with holding and managing inventory, including storage, insurance, taxes, and opportunity costs due to tied-up capital.

Optimum Lot Size

The most cost-effective quantity of items for production or purchase in a single order that minimizes total costs including ordering, holding, and inventory costs.

Inventory Carrying Cost

The total costs associated with holding and storing unsold goods, including warehousing, insurance, depreciation, and opportunity costs.