Which of the Following Is True with Respect to the Elements

question 104

Multiple Choice

Which of the following is true with respect to the elements in the external environment?

• A) The socio-cultural environment has become less important in recent years because of the increasing diversity of the population in Canada.
• B) The political-legal environment is something that cannot be influenced by Canadian business firms.
• C) The economic environment will affect the performance of almost every business.
• D) The boundary between a company and the political-legal environment is more porous than the boundary between a company and the socio-cultural environment.
• E) All of these are true.

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Definitions:

Homogeneous

Characterized by uniformity or similarity in composition, nature, or character, often used in reference to materials or mixtures.

Processing Department

An organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product.

Process Costing

An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion.

Job-Order Costing

A costing system used in situations where many different products, jobs, or services are produced each period.