All business corporations derive their existence from the:
A. common law.
B. state in which they are incorporated.
C. federal government.
D. Commerce Clause of the U.S. Constitution.
Answer: B
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Romney Company exchanged one business automobile for a replacement automobile. The old automobile had an original cost of $40,000, a book value of $16,000, and a fair value of $24,000 when exchanged. In addition, Romney paid $9,000 cash to acquire the replacement automobile. The list price of the replacement automobile was $45,000. The replacement will help generate significantly greater cash
flows in the business. At what amount should the replacement automobile be recorded for financial accounting purposes? A) $24,000 B) $30,000 C) $33,000 D) $35,000
Which of the following are self-contained programs that represent one of the biggest threats in e-commerce fraud?
a. P2P programs b. Internet worms c. Trojan Horses d. Spyware
Which buying organization often operates in important merchandise centers?
a. general buying office b. resident buying office c. inside buying office d. outside buying office
In conventional pay systems, ________ determine(s) the pay rate and range.
A. acquired skills B. the job C. seniority D. the pay grade