If the cost to buy a part is less than the direct material, direct labor, and incremental overhead cost of making the part, the company should buy the part.
Answer the following statement true (T) or false (F)
True
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The ________ provides that federal law takes precedence over state or local law.
A. preemption doctrine/Supremacy Clause B. Bill of Rights C. Monroe Doctrine D. Declaration of Independence
In which of the following ways should a company’s code of ethics differ from its mission statement or vision statement?
a. It should be less subject to fluctuation with environmental changes. b. It should have more input from management. c. It should be less aspirational and more in line with present circumstances. d. It should carry a greater reflection of industry expectations.
When the board of directors of a corporation decides that the appropriation of retained earnings is no longer needed, which account is credited?
a. Retained Earnings b. Common Stock c. Dividends Payable d. Retained Earnings Appropriated e. Common Stock
Ollie negotiates an order instrument to Phil by
A. assignment of its rights under a contract. B. delivery with any necessary indorsement. C. making an unconditional promise to pay. D. presenting it in response to a demand by B.