Economic regulations are illustrated by which action?
A. Providing protection of pension benefits.
B. Allowing market forces to set prices.
C. Preventing anticompetitive business practices.
D. Ensuring safe working conditions.
Answer: C
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Compound interest is
A) calculated by multiplying the principal times the rate times the period of time. B) interest on the original principal plus any past unpaid accrued interest to date. C) interest on the original principal paid or received. D) interest on any past unpaid interest accrued to date.
Foxworth Company sold plant assets that had accumulated depreciation of $20,000. These assets cost Foxworth $70,000 when purchased 4 years ago. The sale of the assets resulted in a gain for Foxworth of $2,000. The amount of cash reported for this transaction on Foxworth's statement of cash flows is a:
A) $70,000 outflow. B) $52,000 inflow. C) $72,000 inflow. D) $2,000 inflow.
Sales to customers who use nonbank credit cards, such as American Express, are generally treated as credit sales
Indicate whether the statement is true or false
A retailer shifting from a retailer-based credit card system to a bank-based credit card system illustrates _____
a. resizing b. self-service operations c. downsizing d. outsourcing