On the Basis of Research Evidence, the Two Basic Needs

question 12

Multiple Choice

On the basis of research evidence, the two basic needs categories are:

• A) tangible and intangible needs
• B) physiological and psychological needs
• C) higher-order and lower-order needs
• D) extrinsic and intrinsic needs
• E) realized and unrealized needs

Prepare journal entries for the issuance of materials, application of labor, and application of factory overhead.

Calculate the cost per unit and total cost of jobs in a job order costing system.

Explain the use of subsidiary ledgers (e.g., materials ledger, finished goods ledger) in cost accounting.

Understand the process of allocating costs using different bases (machine hours, direct labor hours, etc.).

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Definitions:

Poverty-stricken Countries

Refers to nations with low levels of income and economic development, often characterized by insufficient access to basic necessities such as food, clean water, and healthcare.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Poverty Trap

An economic condition in which it is difficult for an individual to obtain enough capital and/or credit to escape poverty; it causes poverty to persist and is also called the “cycle of poverty”.

Public Services

Essential services provided by the government to its citizens, such as healthcare, education, and transportation.