The Idea That Individuals and Organizations Are Accountable to a Larger

question 43

Multiple Choice

The idea that individuals and organizations are accountable to a larger society is known as

• A)the societal marketing concept.
• B)social responsibility.
• C)consumerism.
• D)environmental responsibility.
• E)capitalism.

---

Definitions:

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, computed by taking the number of partially completed units and converting them into a number of fully completed units.

Total Materials Costs

The total expense incurred by a company for the materials that are used in the production process of its goods or services.

Manufacturing Cost

Direct expenditures involved in creating goods, such as components, employee wages, and additional production overhead.

Conversion Cost

The combination of labor and overhead costs incurred to convert raw materials into finished products.