A basic idea in the legal environment in the United States is that attempts by business to limit competition are considered contrary to the public interest.
Answer the following statement true (T) or false (F)
True
American economic and legislative thinking is based on the idea that attempts by business to limit competition are considered contrary to the public interest.
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Last year, RC Rancho's revenue was $120,000,000, variable costs were $90,000,000 and fixed costs were $15,000,000 . RC Rancho's contribution margin ratio was 25 percent
Indicate whether the statement is true or false
If a special pricing order is accepted for 5500 sails at a sales price of $150 per unit, and fixed costs remain unchanged, what is the change in operating income? (Assume the special pricing order will require variable manufacturing costs and variable selling and administrative costs.)
Voyage Sail Makers manufactures sails for sailboats. The company has the capacity to produce 37,000 sails per year and is currently producing and selling 30,000 sails per year. The following information relates to current production:
A) Operating income decreases by $825,000.
B) Operating income increases by $825,000.
C) Operating income decreases by $495,000.
D) Operating income increases by $495,000.
Answer the following statements true (T) or false (F)
Economic exposure directly affects consolidated cash flows.
In converting income statement amounts to statement of cash flow amounts, which of the following is true?
a. Depreciation expense would be deducted from net income. b. A loss on sale of land would be added to net income. c. A gain on sale of equipment would be added to net income. d. An increase in accounts payable would be deducted from net income.