"In nearly every economic crisis, the root cause is political, not economic," observed
A. Adam Smith.
B. Lee Kuan Yew.
C. Ben Bernake.
D. Abraham Lincoln.
Answer: B
You might also like to view...
Laird is an employee ofMotor Parts, an auto parts store.On the orders of his employer,heswitches trademarks on parts that come into the store to be sold to consumers. This is most likely
a. forgery. b. larceny. c. robbery. d. obtaining goods by false pretenses.
Which of the following is TRUE regarding the Foreign Corrupt Practices Act of 1977?
A) It applies only to corporations whose securities are registered under the Securities Exchange Act of 1934. B) It applies only to corporations engaged in foreign commerce. C) The Act makes it illegal to bribe foreign officials to obtain business. D) All of these are correct.
General Manufacturing wants to borrow $1 million for three months. It uses its inventory as collateral for an 11% (APR) loan under a warehouse arrangement where the warehouse fee is $12,000 paid at the start of the three months
What is the EAR of this loan for General Manufacturing? A) 2.8% B) 4.0% C) 17.1% D) 24.4%
Doede Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts--equipment depreciation and supervisory expense--to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below:Overhead costs:Equipment depreciation$39,000?Supervisory expense$9200?Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools MachiningOrder FillingOtherEquipment depreciation0.60?0.30?0.10?Supervisory expense0.60?0.20?0.20?In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs
in the Other activity cost pool are not assigned to products.Activity: MHs(Machining)Orders(Order Filling)Product W15940?186?Product M015,300?988?Total21,240?1174??Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins.Sales and Direct Cost Data: Product W1Product M0Sales (total)$70,000?$62,300?Direct materials (total)$30,800?$15,200?Direct labor (total)$16,100?$31,800?What is the product margin for Product W1 under activity-based costing? A. $13,657 B. $12,877 C. $17,437 D. $3437