The ________ of business is defined as a concern by business about both its profit-seeking and its non-profit-seeking activities and their intended and unintended impacts on groups and individuals other than management or the owners of a corporation
A) corporate duty
B) social responsibility
C) industrial code of ethics
D) professional responsibility
B
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At the end of 2016, Clock Products, Inc determined that one of its patents was worthless. The patent had a cost of $300,000 . The patent had been amortized for 5 years of its estimated 15-year legal life. Which of the following statements is correct?
a. Clock Products must continue to amortize the patent over its remaining 10 years of life. b. The patent must be reduced to 5/15, or 33.3% of its original cost and amortized over the remaining 10 years. c. The remaining unamortized cost must be removed from the accounting records and treated as a loss on the income statement. d. Clock Products must correct its financial statements for the past five years, so that the entire cost is allocated to that five-year period.
Adjusting entries are usually entered in the work sheet before they are entered in the general journal.
Answer the following statement true (T) or false (F)
A random variable that may take on any value in an interval or collection of intervals is known as a _____ random variable.
A. continuous B. discrete C. mixed type D. multivariate
Which of the following is an advantage offered by cobranding?
A) Manufacturers do not have to invest in creating their own brand names. B) Retailers have exclusive products that cannot be purchased from competitors. C) Advertising, sales, promotion, and marketing must be carefully coordinated. D) Brand equity is stabilized. E) A company can expand its existing brand into a category it otherwise might have difficulty entering alone.