Which of the following is not one of the ethical norms spelled out in the AMA's Code of Ethics?
A. citizenship
B. transparency
C. honesty
D. fairness
E. balance
Answer: E
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Answer the following statements true (T) or false (F)
1.A subsidy granted to import-competing producers is intended to lead to increased domestic production and decreased imports for the home country. 2.A subsidy granted to an import-competing producer shifts its supply schedule outward to the right. 3.A subsidy granted to an import-competing producer imposes a deadweight loss on the domestic economy equal to the redistribution effect plus consumption effect. 4.A subsidy granted to import-competing producer reduces overall domestic welfare by the same amount as would a tariff or quota that restricts imports by the same amount. 5.To the extent that subsidies granted to exporting firms reduce the foreign price of their goods, the subsidizing country's terms of trade worsen.
Mary is getting married and she wants everything on the day to be perfect, especially the dress. What kind of product is a wedding dress?
a. speciality b. convenience c. white goods d. accessory e. consumer-durable
In which step of the strategy formulation process would a SWOT analysis take place?
A) Matching the organization and its environment B) Analyzing the organization and the environment C) Developing tactical and operations plans D) Setting strategic goals E) Contingency planning and crisis management
Rerun Manufacturing Company is in the process of preparing its 2020 budget and is anticipating the following changes:30% increase in the number of units sold.20% increase in the direct material unit cost.15% increase in the direct labor cost per unit.10% increase in the manufacturing overhead cost per unit.14% increase in the sales price.7% increase in the administrative expenses.Rerun does not keep any units in inventory.The composition of the cost of finished products during 2019 for materials, direct labor, and factory overhead, respectively, was in the ratio of 3:2:1. The condensed income statement for 2019 is as follows: Sales (30,000 units)$450,000 Less sales returns 13,500 Net sales 436,500 Cost of goods sold 306,000 Gross
profit $130,500 Selling expenses$60,000 Admin.expenses 30,000 90,000 Net income $40,500 What is the estimated cost of goods sold for 2020 assuming the number of units sold does not change? A. $402,900 B. $464,100 C. $397,800 D. $357,000