________ are reruns of network shows that are bought by individual stations to broadcast.

A. Sponsorships
B. First-run syndications
C. Local syndications
D. Network spots
E. Off-network syndications


Answer: E

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Petroleum, a relatively cheap nonrenewable energy source, is:

A. being increasingly depleted and is expected to run out in another 50 years, but in the meantime, improved retrieval techniques are being developed. B. expected to run out in another 10 years and needs to be replaced with renewable energy sources quickly. C. in abundant supply but is not environmentally clean. D. clean, cheap, and available, but its major issue as a fuel is that most of the reserves are located in countries whose leadership is critical of the industrialized world.

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Firms often acquire derivative instruments to hedge interest rate, exchange rate, commodity price, and other risks. U.S. GAAP and IFRS classify derivatives into which of the following categories?

a. Fair value hedges of a recognized asset or liability or of an unrecognized firm commitment, only. b. Cash flow hedges of an existing asset or liability or of a forecasted transaction, only. c. Nonhedging derivative, only. d. Fair value hedges of a recognized asset or liability or of an unrecognized firm commitment, cash flow hedges of an existing asset or liability or of a forecasted transaction, and nonhedging derivative. e. none of the above

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Revocation of acceptance is not effective until notice is given to the seller or lessor.

Answer the following statement true (T) or false (F)

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