In attempting to live up to the ethical principles described in Chapter 5, the public relations profession has ________
A) failed at times
B) succeeded
C) mostly given up, because the standards are impossible to meet
D) submitted its ethical disputes to an arbitrator for a final decision
A
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The projected benefit obligation (PBO) is equal to the
A) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using current salary levels in the pension plan formula. B) difference between the annual pension expense and the amount actually funded during the year. C) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using anticipated future salary levels in the pension plan formula. D) actuarial present value of benefits attributed by the pension plan formula to services rendered by employees during the current year.
Bolt Corporation The following data concern Bolt Corporation for 2012. Accounts receivable--January 1, 2012 $455,000 Credit sales during 2012 900,000 Collections from credit customers during 2012 825,000 Allowance for bad debts before adjustment for the year 2,100 Estimated uncollected accounts based on an aging analysis 29,200 Refer to information provided for Bolt Corporation. If the aging
approach is used to estimate bad debts, what should the balance in the Allowance for Bad Debts account be after the bad debts adjustment? A) $ 2,100 B) $31,100 C) $29,200 D) $27,100
According to the Keynesian concept of efficiency, an efficient tax should be neutral in its effect on free market allocations of economic resources.
Answer the following statement true (T) or false (F)
Tetra Co. uses the perpetual inventory system and a FIFO cost flow method. On January 1, the company purchased 2,000 units of inventory that cost $4.00 each. On January 12, the company purchased an additional 3,000 units of inventory at a cost of $4.20 each. On January 20, Tetra Company sold 4,000 units of inventory. Which of the following entries would be required to recognize the cost of goods sold on that date?
A.
| Cost of goods sold | 16,400 | |
| Inventory | 16,400 |
B.
| Inventory | 16,600 | |
| Cost of goods sold | 16,600 |
C.
| Cost of goods sold | 16,600 | |
| Inventory | 16,600 |
D.
| Inventory | 16,400 | |
| Cost of goods sold | 16,400 |