A domestic corporation is one whose assets are primarily located in the U.S. For this purpose, the primarily located test (>50%) applies
a. True
b. False
Indicate whether the statement is true or false
False
RATIONALE: A domestic corporation is one that was legally organized in the U.S.
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Grandmark Printing pays the current month's rent of $2,000 to the landlord of the building where its facilities are located. How does this transaction affect the accounting equation for Grandmark?
A. Assets would decrease $2,000 and liabilities would decrease $2,000. B. Assets would increase $2,000 and equity would increase $2,000. C. Assets would increase $2,000 and liabilities would increase $2,000. D. Assets would decrease $2,000 and equity would decrease $2,000. E. Liabilities would decrease $2,000 and equity would increase $2,000.
Which of the following is considered an operational decision or structured decision?
A. Monitoring performance of a project team. B. Allocating resources to a department for a new system. C. Determining how many employees are out sick. D. Determining the impact of last month's marketing campaign.
Research conducted by Harvard Business School found that the traditional 4 Ps model:
a. helps businesses promote themselves as important sources of information and problem solving. b. is narrow and outdated. c. is highly relevant in a modern business environment. d. under-emphasizes product technology and quality.
Griffith Manufacturing ships 40 crates of goods by Trusty Shipping, a common carrier. Trusty offers Griffith a shipping rate of $725 for a limited liability of $5,000 or a rate of $975 for full liability for any harm to the goods. Griffith chooses the $725 rate. In transit, Trusty's driver has an accident during an ice storm and all of Griffith's goods are destroyed, causing a loss of $12,000. If
Griffith sues Trusty, A) Trusty will be liable for only $5,000 because a common carrier is allowed to limit its liability by contract. B) Trusty will be liable for the full $12,000 because common carriers have strict liability. C) Trusty will automatically be liable for the full $12,000 under the Carmack Amendment. D) Trusty is subject to normal bailment rules and can escape liability for any damage to the goods by proving that it exercised due care of the property and that the loss was caused by an act of God.