Corporations can be good citizens by promoting goals that society deems worthwhile.

Answer the following statement true (T) or false (F)


True

Business

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If a salesperson says, "This is a great car and it's really fun to drive," but the car turns out to be a lemon, the salesperson has committed fraud

a. True b. False Indicate whether the statement is true or false

Business

Middle Co. uses process costing to account for the production of chocolate candy bars. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Cost per equivalent unit has been calculated to be $4.00 for conversion costs and $3.00 for materials. 3,000 units were in beginning inventory (100% complete for materials, 80% for conversion). 12,000 units were started and completed during the period. Ending inventory still in process was 6,000 units (100% complete for materials, 40% for conversion). The value of ending inventory using the FIFO method would be:

A. $97,500.00 B. $27,600.00 C. $34,699.80 D. $47,899.80

Business

If there is a statute that prohibits a certain action, a contract to do it is unenforceable

Indicate whether the statement is true or false

Business

Dumping is the sale of imported goods at "less than fair value."

Indicate whether the statement is true or false

Business