A corporation CANNOT do which of the following?
a. Sue and be sued
b. Be criminally prosecuted
c. Own property
d. Create law
Ans: D
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Regulatory Accounting Principles (RAP) can be used:
A. as a source of statistical information. B. to set the prices customers may be charged. C. to determine the amount of dividend to be paid. D. as a basis for supervisory action.
Delivery refers to how well the product or service is brought to the customer. It includes speed, ________, and care throughout the delivery process
A) expedience B) intensity C) tangibility D) performance E) accuracy
Describe the types of manufacturing environments that would best be suited for (1) job-order costing and (2) process costing. Include two examples of manufacturers that would likely use job-cost systems.
What will be an ideal response?
The court decisions in the Borden case clearly show that
A. a manufacturer can charge different prices for different brands of physically identical products as long as the price differentials do not exceed the recognized consumer appeal of the higher-priced brands. B. manufacturers cannot charge different prices for dealer brands and manufacturer brands. C. manufacturers who supply retailers with dealer brands cannot force the retailer to charge consumers the manufacturer's suggested list price. D. products of "like grade and quality" must be offered to all buyers at the same price-even if sold under different labels. E. price fixing is always illegal.