In Contrast to the Total Product and Variable Cost Concepts

question 32

Multiple Choice

In contrast to the total product and variable cost concepts used in setting seller's prices,the target cost approach assumes that

• A)a markup is added to total cost.
• B)selling price is set by the marketplace.
• C)a markup is added to variable cost.
• D)a markup is added to product cost.

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Definitions:

Ethical Responsibilities

Ethical responsibilities entail the moral obligations of researchers and professionals to conduct their work and interactions with integrity, respect, and consideration for impact on participants and society.

Informed Consent

The process by which potential research participants are informed of the nature of the research and given the opportunity to sign or not sign a voluntary agreement to participate.

Confidentiality

The assurance given to research participants that the researcher will not release any information that will identify them. The researcher can link information that participants provide to the identity of the person providing it.

Anonymity

A condition of being anonymous, where an individual's identity is unknown or concealed.