Which of the following BEST gives the meaning of the term gross domestic product?
A) Total quantity of goods and services produced by an economic system
B) Total quantity of goods that a country's citizens can purchase with the currency used in their economic system
C) Conditions of the economic system in which an organization operates
D) Total value of all goods and services produced within a given period by a national economy through domestic factors of production
E) Indicators of available goods and services produced within a specific domestic market
Answer: D
Explanation: D) Gross domestic product (GDP) is the total value of all goods and services produced within a given period by a national economy through domestic factors of production; this figure does not include goods and services produced by domestic firms overseas.
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The following set of items describes activities completed by a company in purchasing and paying for merchandise. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. Extensions and footings on purchase invoices are verified before the invoices are approved for payment
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
The concept of leverage is
a. it is appropriate to borrow if the return on the assets is greater than the cost of the financing. b. it is appropriate to borrow as long as the lender approves the loan. c. it is unfavorable to borrow funds rather than raise the capital from stockholders. d. that a high debt-to-equity ratio is favorable.
ever legally cleared for use, what will likely be the biggest obstacle to widespread adoption of the fMRI polygraph?
a. cultural bias b. cost c. public stigma d. privacy concerns
“Groupthink,” a mode of thinking, occurs when:
A) People are deeply involved in an otherwise non-cohesive group B) People get a chance to express their ideas C) People form a group and think through the steps involved in the decision making process D) The desire for unanimity offsets people’s motivation to appraise alternative courses of action