Which of the following must be included in an organization’s statement of accounting profits for the statement to be of use?
a. the estimated amount the organization could have earned pursuing other options
b. the extent to which technological improvements increased productivity
c. the percentages planned for reinvestment or distribution to investors
d. the period in which the profit was earned, such as a year or a quarter
d. the period in which the profit was earned, such as a year or a quarter
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The slope of a downward-sloping straight line can be calculated as the distance from the
A. horizontal intercept of the line to the origin divided by the distance from the origin to the vertical intercept of the line. B. origin to the horizontal intercept of the line minus the distance from the origin to the vertical intercept of the line. C. vertical intercept of the line to the origin divided by the distance from the origin to the horizontal intercept of the line. D. vertical intercept of the line to the origin minus the distance from the origin to the horizontal intercept of the line.
When referring to "marginal" changes, the economic focus is on
A) changes which affect only a few people or products. B) large changes on the low end. C) small or incremental changes. D) graduated changes on the high end.
Skeeter's Skeeball Castle has seen its business slow down ever since Kerrie's Off-Key Karaoke opened up next door. Since the opening of Kerrie's Off-Key Karaoke, the opportunity cost of playing skeeball at Skeeter's has
A) decreased. B) not changed. C) fallen to zero. D) increased.
Which of the following holds true, if goods sell for the same price worldwide when converted to a common currency?
a. A high rate of inflation exists b. A fixed exchange-rate system exists c. Purchasing power parity exists d. The foreign exchange market is in equilibrium e. Arbitrage opportunities exist