Answer:
A) production is determined by the interaction of supply and demand.
Explanation:
A pure market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions
Characteristics of a pure market economy
- Private ownership of means of production
- freedom of choice. Producers are free to produce what they desire
- competition among producers
- no government intervention.
Answer:
False
Explanation:
The formula for equivalent units units as follows:
Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred
Therefore, ideally,
Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.
As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.
<u>Therefore, above statement is false.</u>
The statement, "According to an SEC investigation, Computer Associates, one of the world's largest software companies, backdated contracts to boost the company's reported revenues. This is not prescribed as an ethical business practice." is True
.
Option a
<u>
Explanation:
</u>
To thrive in the competitive world of business one has to have ethics in doing business. By doing ethical practices in the business it will boost the image of the company before the customer and it will be helpful for them to compete in the market.
From the above statement even though it is the world's largest software company it has backdated the projects contracts period to show better performance in the revenues.
Even though the project are genuine but the moral responsibility in reporting revenues to the investors take taken a dent by doing an unethical thing.
Answer and Explanation:
The challenges that occurs is as follows;
1. Adaption of an outside atmosphere
2. Language related problem
3. Every person have different kind of understanding skills that is difficult also it must be adopted for explaining the project to the other people
So as per the given statement, the above represent the challenges that arise in the case when the project manager shifted to a foreign country for managing a project of 5 years
