NetflixCom Asks Its Customers to Rate the Videos They Have

question 23

Multiple Choice

Netflix.com asks its customers to rate the videos they have watched.This information is then used to rank videos for other Netflix.com subscribers.These subscribers can then use the video rankings to help them decide on a video to rent.Through this process,Netflix.com is helping its customers apply the:

• A) ranking principle.
• B) choice principle.
• C) more-is-better principle.
• D) the indifference principle.

Understand the composition of product costs under variable costing.

Identify which costs are included in the cost of products manufactured under the absorption costing concept.

Distinguish between variable and absorption costing in the treatment of fixed and variable costs.

Recognize how variable and absorption costing impact the income statement presentation, specifically gross profit, contribution margin, and net profit.

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Definitions:

Service Learning

An educational approach that combines learning objectives with community service, allowing students to gain hands-on experience while benefiting their communities.

Cognitive-moral Education

An approach in education that focuses on the development of ethical thinking and moral reasoning skills.

Moral Reasoning

The process of determining right from wrong in a logical, systematic way, often based on ethical principles.

Democracy

A form of government in which power is vested in the people and exercised by them directly or through freely elected representatives.