This Chapter's "Focus on Globalization" Section Discusses Economic Globalization

question 57

Multiple Choice

This chapter's "Focus on Globalization" section discusses economic globalization.Which of the following is an outcome of our 21^st-century global economy?

• A) Modern-day transnational finance has shifted economic control of local life to outsiders.
• B) Economic functions are now locally controlled.
• C) Foreigners now finance only a small percentage of the U.S. national debt.
• D) American companies are withdrawing from foreign markets.
• E) With increasing globalization there is increased face-to-face contact in economic transactions.

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Definitions:

Indirect Expense

Expenses incurred that are not directly linked to a specific product or service, such as utilities or rent for the business premises.

Service Department Charges

The costs of services provided by an internal service department and transferred to a responsibility center.

Profit Center

A branch or division of a business that is directly responsible for generating its own revenue and profits.

Property Tax Expense

The cost incurred by property owners for taxes assessed on their land and buildings, recognized as an expense for the business.