Consider the use of child labor from the perspective of a person from a developed country and from the perspective of person from a developing country. How might the two views differ? Why?
What will be an ideal response?
A person from a developed country will probably suggest that it is unethical for a business to outsource production to an offshore factory that relies on child labor. However, for a person from an undeveloped country, the wages the child makes might be the difference between food and no food. The person from the developed country might also take the view that the child will work, and that the job at the factory might be superior to other jobs that are available.
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One of the reasons that a person would purchase an annuity is that they are concerned with the risk of:
A. Dying too soon. B. Becoming too old to qualify for ordinary life insurance. C. Having to pay taxes on their retirement savings. D. Outliving their retirement income.
What term defines the 2 functions measuring business activities of a company and then to communicate those measurements to external parties for decision-making-purposes.
a. Managerial Accounting b. Financial Accounting