John Stuart Mill believed that even if there were no buying and selling, there would still be a profit. What was his justification for this statement?
a. Profit can also be created when people simply exchange goods
b. Labor can create profit even if the laborer simply consumes his produce
c. Interest on a loan is profit even though no buying or selling occurs
d. Profit is sometimes an intangible benefit, such as getting a good education
b
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Stogdill’s second study found ______.
A. no significant differences in traits from 1948 to 1974 B. situational factors could not be identified C. emotional intelligence plays a significant role in leadership D. both traits and situational factors are determinants of leadership
The Chuba Corporation uses a standard cost system in which manufacturing overhead is applied on the basis of standard direct labor-hours (DLHs). During December, the company actually used 7,200 direct labor-hours and made 1,900 units of finished product. The standard cost card for one unit of product includes the following data concerning manufacturing overhead:Variable overhead: 4 DLHs @ $5.25 per DLHFixed overhead: 4 DLHs @ $2.00 per DLHFor December, the company incurred $16,550 in fixed manufacturing overhead costs and recorded an $800 unfavorable volume variance.The denominator activity level in direct labor-hours used by Chuba in setting the predetermined overhead rate was:
A. 7,800 hours B. 7,200 hours C. 8,000 hours D. 7,600 hours
Bradford Corporation reported net credit sales of $3,200,000 and cost of goods sold of $2,600,000 for 2012. On January 1, 2012, accounts receivable was $450,000. Amounts owed by customers increased by $50,000 during 2012. Rounding to two decimal places, what is Bradford's receivable turnover ratio for 2012?
A) 5.47 B) 6.40 C) 6.74 D) 7.11
When formulating a goal programming model, the decision maker will use decision variables similar to those used in regular linear or nonlinear programming models. In goal programming models, these variables are known as deviational variables
a. True b. False