Which of the following best describes conflict of interest?
A. Jenson misses his deadlines at his full-time day job because he works late nights as a part-time music producer.
B. Cathy, who does computer repairs, lies to customers about having an office downtown when she actually works part-time from her home.
C. Ken uses the money he gets from his full-time job as a chef to run his part-time business of graphic designing.
D. Sarah works a full-time day job as a waitress and then runs a part-time baby-sitting service at night.
Answer: A
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When a project has a positive net present value, it has a profitability index:
A. greater than zero. B. greater than one. C. less than zero. D. less than one.
Gomez Service Company has received $7,500 in cash for services rendered. What affect does this transaction have on the accounting equation?
A) Increase Assets (Cash) and decrease Owner's Equity (Expenses) B) Increase Assets (Cash) and decrease Assets (Accounts Receivable) C) Increase Assets (Accounts Receivable) and increase Owner's Equity (Fees Earned) D) Increase Assets (Cash) and increase Owner's equity (Fees Earned)
To provide relief from double taxation, Congress allows a foreign-unearned income exclusion for interest and dividends earned in foreign countries.
Answer the following statement true (T) or false (F)
The basic decision environment categories are:
A) certainty and risk. B) risk and uncertainty. C) certainty and uncertainty. D) certainty, uncertainty and risk.