Answer the following statements true (T) or false (F)
1. Labor standards established by the ILO's Declaration of Fundamental Principles and Rights at Work are legally enforceable.
2. Currently, all global trade agreements sanctioned by the WTO have a social clause requiring them to abide by the ILO's Declaration on Fundamental Principles and Rights at Work.
3. The World Bank requires companies to abide by the ILO's Declaration on Fundamental Principles and Rights at Work as a condition of borrowing money.
4. NAFTA is a free trade agreement between Canada, Mexico, and the U.S. that allows both free capital and labor mobility.
5. The North American Agreement on Labor Cooperation was created primarily to prevent social dumping by U.S. companies operating in Mexico.
1. FALSE
2. FALSE
3. TRUE
4. FALSE
5. TRUE
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A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital in excess of par is:
A. $100. B. $7,000. C. $600. D. $1,000. E. $6,000.
On a consignment sale, the payment risk is
A. covered by the bank issuing the L/C. B. covered by insurance. C. assumed to be equally shared. D. assumed by the buyer. E. carried by the seller.
Steve gave stock with an adjusted basis of $7,000 and an FMV of $10,000 to Alice. No gift tax was paid. Later, Alice sold the stock for $12,000. The gain Alice will recognize on the sale is
A. $5,000. B. $0. C. $2,000. D. none of the above
Among industrialized countries, which of the following uses the lowest proportion of debt?
A. The United States B. Canada C. Italy D. The United Kingdom E. Japan