Describe what is meant by the direct costs of a program (for example, a fire prevention program) and why it is important to distinguish direct costs from indirect costs.
What will be an ideal response?
The direct costs of a program are those that can be identified as having been incurred specifically for the purposes of the program. It is important to carefully distinguish direct costs since a government can usually recover the full amount of direct costs of a program that receives federal funding, but only if the costs are identified in the manner set forth in the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Indirect costs may only be partially recoverable. Also, knowing the cost of providing fire protection can be highly useful in determining whether to contract with a private firm for fire protection, as have some innovative municipalities.
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The price-earnings ratio is computed by dividing earnings per share by the par value per share.
Answer the following statement true (T) or false (F)
In which of the following can the Statute of Frauds be raised under the common law of contract?
A) when a seller of specially manufactured goods has made commitments for the procurement for an oral agreement B) when the party against whom enforcement of an oral sales or lease contract is sought admits to such a contract in court C) when the writing must be signed by the party against whom enforcement is sought D) when there has been no written confirmation of a contract between two merchants
New product development adds value to a firm's products and services through innovation.
Answer the following statement true (T) or false (F)
You are at lunch when you notice one of your firm's delivery drivers sitting at the bar in the restaurant. The driver is having shots of tequila over the course of the lunch hour. He then returns to his truck in the parking lot and resumes deliveries. You:
a. Should stop the driver. b. Should report the driver. c. Should take the keys to the truck. d. Should do all of the above.