Ed was an independent owner of a chain of TV stores. He successfully got customers into his store by cutting his prices on widely advertised name-brand products in order to sell other products for which he received a bigger profit. When the manufacturers of three of the name-brand products discovered Ed's actions, they agreed secretly to stop selling him their TVs. The three manufacturers
A. are doing nothing illegal, as they did not get Ed to agree to anything.
B. are free to agree not to deal with Ed since the public can go elsewhere and will not be hurt economically.
C. can choose either as a group to deal or not to deal with any retailer they want.
D. are engaged in a rule of reason violation of the antitrust laws if their action harms competition.
Answer: D
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Issues management is NOT part of strategic planning and management when it
A. Builds coalitions with other parties interested in an issue B. Adjusts the organization to improve relationships with stakeholders C. Uses only persuasive communication to influence public policy D. Accelerates issues of opportunity E. Eliminates or redirects potential threats
A question of ethics
The Endangered Species Act of 1973 makes it unlawful for any person to "take" endangered or threatened species. The act defines take to mean to "harass, harm, pursue," "wound," or "kill." The secretary of the interior (Bruce Babbitt) issued a regulation that further defined harm to in-clude "significant habitat modification or degradation where it actually kills or injures wildlife." A group of businesses and individuals involved in the timber industry brought an action against the secretary of the interior and others. The group complained that the application of the "harm" regulation to the red-cockaded woodpecker and the northern spotted owl had injured the group economically because it prevented logging operations (habitat modification) in Pacific Northwest forests containing these species. The group challenged the regulation's validity, contending that Congress did not intend the word take to include habitat modification. The case ultimately reached the United States Supreme Court, which held that the secretary reasonably construed Congress's intent when he defined harm to include habitat modification.
A company seeks to maximize profit subject to limited availability of man-hours. Man-hours is a controllable input
Indicate whether the statement is true or false
A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued interest revenue earned of $1,200.B. Depreciation expense of $4,000.C. Portion of prepaid insurance expired (an asset) used $1,100.D. Accrued taxes of $3,200.E. Revenues of $5,200, originally recorded as unearned, have been earned by the end of the year.Determine the correct amounts for the December 31 financial statements by completing the following table:AssetsLiabilitiesEquityNet IncomeReported amounts………..$350,000$200,000$150,000$70,000Add (subtract) tocorrect for
item:????A………………………????B………………………????C………………………????D………………………????E………………………???? Corrected amounts………$$$$ What will be an ideal response?