From John Stuart Mill's Viewpoint

question 46

Multiple Choice

From John Stuart Mill's viewpoint,

• A)philosophical concern with justice began in the 19th century.
• B)questions of morality form a subset of questions of justice.
• C)for utilitarians,justice is a moral standard independent of the principle of utility.
• D)not every issue of social utility was a matter of justice.

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Definitions:

Variable Expense

Expenses that change in proportion to the activity of a business.

Fixed Expense

Costs that do not vary with the level of production or sales, such as rent or salaries.

Variable Overhead Rate

The rate at which variable overhead costs are allocated to products based on an activity base, such as machine-hours or direct labor-hours, reflecting changes in cost with production volume.

Fixed Manufacturing Overhead

Costs related to the production process that remain constant regardless of the production volume, such as rent and salaries of managers.