How did Adam Smith see the relationship between selfishness and self-interest under capitalism?
What will be an ideal response?
Smith believed that even though people would be tempted by selfishness--concern
only for the self--a combination of their moral sentiments and an independent system of justice would foster behavior based on self-interest, or concern for the self in relation to others.
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The primary purpose of the statement of cash flows is to provide information about
a. the financial position of the company. b. the cash inflows and outflows of the company. c. the investing and financing activities of the company. d. the profitability of the company.
What type of fraud occurs when the deposits of current investors are used to pay returns on the deposits of previous investors with no real investment happening?
a. Skimming. b. Ponzi Scheme c. Channel Stuffing. d. Payroll Fraud.
If an agency is gratuitous, the principal ordinarily may revoke it without liability to the agent
a. True b. False Indicate whether the statement is true or false
In Dayan v. McDonald's Corporation, the court ruled that:
A) McDonald's quality standards were inadequate under French law B) the McDonald's franchise contract was illegal under French law. C) McDonald's had fulfilled its responsibility to the franchisee in France under U.S. law. D) the French do not like hamburgers.