The closest thing we have to a real-life example of perfect competition is the _________
a. agriculture industry
b. retail industry
c. automobile industry
d. public utility industry
a
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Seth and Beth have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%; salary allowances of $27,000 and $18,000, respectively; and the remainder to be divided equally. How much of the net income of $42,000 is allocated to Seth?
a. $20,000 b. $23,000 c. $32,000 d. $0
Comprehensive income includes net income, changes in unrealized investment gains and losses, and other items affecting equity, such as foreign currency translation adjustments
Indicate whether the statement is true or false
Which of the following is true regarding pension (and other employee benefit) trust funds?
A. While the accrual basis of accounting is used, the terms "additions" and "deductions" are used in the Statement of Changes in Fiduciary Net Position in lieu of "revenues" and "expenses". B. The actuarially computed Net Pension Liability is reported in the Statement of Fiduciary Net Position. C. Both of the above. D. Neither of the above.
To minimize the effects of uncertainty due to lead times, MRP systems incorporate ______.
A. safety stock B. safety lead time C. planned released orders D. increase in production