A major step in regulating "unfair or deceptive business acts and practices" was the enactment of the ________ in 1938
A) Robinson-Patman Act
B) Wheeler-Lea Act
C) Interstate Commerce Commissions
D) Taft-Hartley Act
E) Stamp Act
B
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A noninfluential and noncontrolling investment is defined as ownership of less than 25 percent of the stock of another company
Indicate whether the statement is true or false
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory150 units @ $10.00 5Purchase220 units @ $12.00 10Sales 140 units @ $20.0015Purchase100 units @ $13.00 24Sales 90 units @ $21.00
A. $2,460 B. $2,590 C. $5,440 D. $2,860 E. $2,980
If a merchant buyer rejects goods, and the seller does not have an agent or place of business at
the market where the goods were rejected, the buyer must: A) Follow any reasonable instructions from the seller. B) If the goods are not perishable, sell the goods. C) If no instructions come from the seller, sell the goods. D) A and B only E) A and C only
Baxter customer service department follows up on customer complaints by telephone inquiry. During a recent period, the department initiated 10,000 calls and incurred costs of $312,000. Of these calls, 3,800 were for the company's wholesale operation; the remainder was for the retail division. Costs allocated to the retail division are:
A. $0. B. $31,200. C. $203,000. D. $193,440. E. $118,560.