Which organization was originally designed to encourage free trade between member states by regulating and reducing tariffs on traded goods?
A) NAFTA
B) EU
C) ASEAN
D) GATT
Answer: D
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An advertising elasticity of 0.35 means that for every one percent change in advertising expenditures there will be an estimated ________ percent change in volume sold
A) 0.0035 B) 0.035 C) 0.35 D) 3.5 E) 35
A cash budget
a. is an optional feature of a master budget. b. requires input from all parts of the organization. c. takes the place of another budget. d. is prepared only at year end.
Variable cost does not include:
A) raw materials and resources. B) staff and management salaries. C) material handling and freight. D) direct labor and packaging.
Which of the following would be an unconditional promise or order to pay?
a. "I hereby acknowledge my debt to John Jones." b. "I hereby promise to pay $2,000 to John Jones provided the lawn tractor sold meets the contractual specifications." c. "Pay to the order of bearer ten dollars." d. "IOU fifty dollars."