The economic model of social responsibility was developed in a period when the primary concern of firms was
A. long-term success and profitability.
B. improving the quality of life.
C. short-run profits and survival.
D. complete customer satisfaction and expansion.
E. having safe and satisfied employees.
Answer: C
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Why would a discount store have a lower gross margin percent than a jewelry store?
A. Discount stores are only beginning to explore gross margin in pricing decisions. B. Jewelry stores cannot offer the variety that discount stores offer. C. Discount stores traditionally do not profit as well as jewelry stores. D. Discount stores have a higher cost of goods sold. E. Discount stores have a lower priced merchandise strategy.
GRT Logistics takes the help of the latest technology to get its processes done. It uses fully programmed systems for which human control is not required at all. These systems operate the machinery and equipment on their own to perform a variety of tasks. In this scenario, GRT Logistics has _____ its processes.
A. vertically integrated B. automated C. offshored D. outsourced
An irrelevant cost:
A. must differ between decision alternatives. B. must be incurred in the future rather than in the past. C. will not influence a decision. D. is also called a differential cost.
Which of the following combinations results in a net loss reported on the income statement?
A) Total revenues of $80,000 and total expenses of $74,000. B) Total revenues of $70,000 and total expenses of $74,000. C) Total revenues of $60,000 and total expenses of $52,000. D) Total revenues of $20,000 and total expenses of $16,000. E) Total revenues of $40,000 and total expenses of $31,000.