If You Are Considering Buying Either an Apple Watch or a Samsung

question 428

Multiple Choice

If you are considering buying either an Apple Watch or a Samsung Gear S2,and you choose the Samsung only because the price is lower,then you consider

• A)the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good.
• B)the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.
• C)the Apple Watch and the Samsung Gear S2 to be complements.
• D)the Apple Watch and the Samsung Gear S2 to be substitutes.

Acknowledge that management functions extend beyond business settings to all types of organizations.

Recognize the sources of funding for companies and the roles of various stakeholders.

Identify the primary functions and concerns of managers within an organization.

Grasp the significance of strategic, tactical, and operational planning in achieving organizational objectives.

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Definitions:

Traditional Costing

An accounting method that allocates manufacturing overhead costs to products based on the volume of production resources consumed.

Direct Labor-Hours

A measure of the work done by employees directly involved in the manufacturing process, counted in hours.

Activity Cost Pools

A grouping of all costs associated with a specific activity, used in activity-based costing to more accurately allocate overhead costs.

Activity Rates

Rates used in Activity-Based Costing to assign overhead costs to products or services, based on specific activities that drive those costs.