‘Explain how a follower of Natural Law might approach the issue of abortion. (25)’ The idea behind Natural Law that God is everywhere and in everyone was first seen in the Stoics. Aristotle then created Natural Law and his ideas where later developed by Thomas Aquinas. Natural law states that there is a natural order to our world that should be followed‚ and this natural order is determined by a supernatural power – God. Thomas Aquinas believed that Natural Law was one of four Laws in our universe
Premium Natural law Thomas Aquinas Morality
(c) a checking account? 2 Under what conditions would a camera manufacturer adopt a skimming price approach for a new product? A penetration approach? 3 What are some similarities and differences between skimming pricing‚ prestige pricing‚ and above-market pricing? 4 Touché Toiletries Inc. has developed an addition to its Lizardman Cologne line tentatively branded Ode d’Toade Cologne. Unit variable costs are 45 cents for a 3-ounce bottle‚ and heavy advertising expenditures in the first year would
Premium Pricing Cost Variable cost
There are a number of benefits associated with life cycle costing. (a) The life cycle concept results in earlier actions to generate revenue or to lower costs than otherwise might be considered. (b) Better decisions should follow from a more accurate and realistic assessment of revenues and costs‚ at least within a particular life cycle stage. (c) Life cycle thinking can promote long-term rewarding in contrast to short-term profitability rewarding. (d) The life cycle concept helps managers
Premium Cost Costs Management
costs at the original budgeted activity level. True False 3. The overhead spending variance and the overhead efficiency variance are useful only if variable overhead really should be proportional to the activity measure that is being used in the flexible budget. True False 4. The variable overhead efficiency variance reflects how efficiently variable overhead resources were used. True False 5. A reason for keeping a constant denominator activity level is to maintain stability in the amount of
Premium Variable cost Cost accounting Cost
Activity-Based Costing Activity-Based Costing Activity based costing (ABC) is a costing method that is designed to provide managers with cost information for strategic and other decisions that potentially affect capacity. Activity based costing is a subset of activity-based management. Activity based costing is used to determine product costs and for internal decision-making and for managing activities. Traditional Absorption costing is for external financial reporting. Activity-based costing is a suitable
Premium Management accounting Costs Activity-based costing
Activity-based costing (ABC) is a costing model that identifies activities in an organization and assigns the cost of each activity resource to all products and services according to the actual consumption by each. It also assigns more indirect costs (overhead) into direct costs. In business organization‚ the ABC methodology assigns an organization’s resource costs through activities to the products and services provided to its customers. It is generally used as a tool for understanding product and
Premium Cost accounting Activity-based costing Cost
http://www.writework.com/essay/issues-product-costing-unimportant-virtual-organisations-o Issues of product costing are unimportant for virtual organisations that outsource production operations." Essay by hotsanjaysoni‚ B-‚ March 2005 The topic states that is product costing important for virtual organisations that are outsourcing their production operations. Virtual organisations are those corporation that operate in the world of e-business or e-commerce. A virtual organisation can be defined
Premium Management Strategic management Organization
Competition today is one of the major threats to an airline industry. Competitive advantage therefore can be achieved by establishing cost leadership. The ultimate challenge faced by any company would be to leverage between the escalating operational costs and falling revenues so as to maximise the profits. Determine the costing procedure of an airline industry and the various possible efforts it takes to reduce the costs. The airline industry employs a trend and horizontal analysis to evaluate its performance
Premium Southwest Airlines Airline Northwest Airlines
THE THIRD-VARIABLE PROBLEM Correlational data are frequently misinterpreted‚ especially when presented by newspaper reporters‚ talk-show hosts‚ or television newscasters. The Most common problem in interpreting correlations is Third-Variable Problem. A correlation simply indicates that there is a weak‚ moderate‚ or strong relationship (either positive or negative)‚ or no relationship‚ between two variables. When interpreting a correlation‚ it is also important to remember that although the correlation
Premium Correlation does not imply causation Higher education Causality
process to accomplish a proposed distressed finishing process for a new customer‚ is the cost interdependency studied. We explain how marginal costing and full cost activity-based costing (ABC) are used by the controller to present management product optimal (profit-maximizing) production decisions on the proposed contract. The Denim Finishing Company provides laundering and special finishing of denim pants for the original manufacturer. Their specialty is converting unwashed denim jeans and
Premium Economics Costs Marginal cost