Which of the following is part of the FTC policy statement for determining if a practice is deceptive?
a. there is a representation or omission of information in a communication to consumers b. the deception is likely to mislead a reasonable consumer
c. the deception may cause physical harm to consumers
d. there is a representation or omission of information in a communication to consumers and the deception is likely to mislead a reasonable consumer
e. there is a representation or omission of information in a communication to consumers and the deception is likely to mislead a reasonable consumer and the deception may cause physical harm to consumers
e
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Danny LaBarbera made a contract to buy a vintage car from Dupree Bolton for $20,000. He had already arranged to resell the car to a collector for $30,000. Dupree backed out of the deal, and Danny was unable to find a replacement. Danny sues Dupree
What are his damages? A) $10,000. This will place Danny in the same position as if the contract had been fulfilled. B) $20,000. This will satisfy Danny's expectation interest. C) $30,000. This is what Danny expected to receive from his collector D) Zero. Danny is no worse off than he was before the breach, since he didn't pay Dupree any of the $20,000. E) $5,000. Danny was obliged to mitigate his damages.
Which of the following statements is not true under the Fair Labor Standards Act?
A) Children ages 16 and 17 may work unlimited hours in nonhazardous jobs. B) Persons age 18 or over may work unlimited hours in nonhazardous jobs. C) Children ages 14 and 15 may work limited hours in nonhazardous jobs. D) Children under 14 cannot work at all, except on farms. E) Persons age 18 or over may work unlimited hours in hazardous jobs.
Budgeting requires managers to develop overall business goals and budget for specific actions to achieve the goals
Indicate whether the statement is true or false
Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and dividends accounts for the upcoming period and to update the retained earnings account for the events of the period just finished are referred to as:
A. Final entries. B. Work sheet entries. C. Updating entries. D. Closing entries. E. Adjusting entries.