Which of the following is summarized as “past actions that led to positive outcomes tend to be repeated, whereas past actions that led to negative outcomes will diminish”?
A. the law of diminishing returns
B. the law of attraction
C. the law of effect
D. the law of cause
C. the law of effect
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According to the watchdog group Public Citizen, NAFTA is responsible for
A. a decrease in illegal immigration into the United States. B. the loss of 845,000 U.S. jobs. C. a higher standard of living among its trading partners. D. closing the wage gap between Mexico and the United States. E. the formation of the IMF and World Bank.
Accounts receivable resulting from sales to customers amounted to $40,000 and $31,000 at the beginning and endof the year, respectively. Income reported on the income statement for the year was $120,000 . Exclusive of theeffect of other adjustments, the net cash flows from operating activities to be reported on the statement of cashflows using the indirect method is
a. $120,000 b. $129,000 c. $151,000 d. $111,000
An objective of segregation of duties is to structure the organization so that the perpetration of a fraud requires collusion between two or more individuals. What must a company do to achieve this objective? Why?
Answer the following statements true (T) or false (F)
In the cash flow statement, cash is defined as literal cash on hand or on demand deposit plus cash equivalents.