secondary data over primary data because
able to exercise the greatest degree of discretion in
negligence is true?
(B) It is a strict liability tort with no defenses.
(C) It requires proof of some intentional conduct.
(D) It requires proof of breach of a statutory or
flowchart is true?
steps that take place in an information
cash balance of $5,123. The May 31 bank
statement shows a balance of $4,905. Other
information is available as follows:
1. A May 31 deposit of $300 does not
appear on the bank statement; but a
$3 service charge does.
2. A customer’s $40 insufficient funds
check has been returned with the bank
3. Outstanding checks of $10, $15, and
$100 are identified on May
What is the correct cash balance on May 31?
model (CAPM), the risk measure known as beta is
often computed by regressing the return of the
company’s stock against the
completion time for each job is given in days. The
project has three critical paths with two jobs in
common, J and K. In order to finish the project one
day early, the completion time should be reduced
one day for
(B) each of the jobs on the three critical paths
(C) either Job J or Job K
(D) both Job J and Job K
Answer : C
Countries (OPEC) reduces production by
10 percent, and the growth rate of the world
economy begins to escalate. How will the
simultaneous occurrence of these events affect the
equilibrium price and quantity in the world
result of the United States government’s imposing
tariffs on foreign steel imports?
States would decrease.
(B) The price of imported steel in the United
States would decrease.
(C) Employment in the United States steel
industry would increase.
(D) Government tax revenue would fall.
valuation method would generally yield both the
lowest ending inventory value and the lowest net
(B) Last in, first out (LIFO)
(C) Weighted average
(D) Standard cost
The common set of accounting principles, standards and procedures that companies use to compile their financial statements.
Statement of Change in Equity
Statement of Cash Flows
When combined they tell you all about the company
Each provide unique financial information and no one statement will tell you everything about a company’s finances
* Short run measurement for a fixed time period, all it tells you is whether or not the company was profitable
flows from operating activities will include which of
(B) Issuance of common stock
(C) A decrease in accounts payable
(D) Purchase of a building financed entirely by a
rights to reduce legal liability in the sale of non-consumer
damages if it is done clearly and
(B) The seller can limit the remedy available to
the buyer if he or she does so clearly and
(C) The seller can place reasonable conditions on
the warranty coverage and a shorter time
limit of warranty coverage.
(D) The seller can disclaim all implied warranties
by simply stating that there are no implied
manufacture lawn mowers. Green is concerned
about having his personal assets exposed to liability
for the new company’s contracts and torts.
Furthermore, he wants to retain control over the
company’s operations and growth for the next few
years. He will need an infusion of equity capital to
begin operations. He hopes to take the company
public in about five years if it is advantageous to do
so at the time. Which of the following types of
business associations would be best for Green’s
(B) General partnership
(C) Limited partnership
(D) Member-managed limited-liability company
skills who are committed to a common purpose, a set
of performance goals, and an approach for which
they hold themselves mutually accountable is
referred to as a
(B) task force
in other departments to discuss a cost savings idea
that would benefit their departments as well as her
own. Which of the following most accurately
defines the communication channel that the
manager was using?
Frederick Taylor developed what pay principle?
(B) Incentive pay
(C) Profit sharing
(D) Monthly salary with bonus
manufacture and sell its product in exchange for a
fee or royalty, the process is termed
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