Dorn Petrochemicals is found responsible for a large oil spill that resulted in widespread environmental damage
A national debate followed, and a prominent social scientist argued that the oil company should be prosecuted to the full extent of the law and that all sanctions that apply to individuals and other business entities should also apply to Dorn. This social scientist is most likely a proponent of the ________ theory of social responsibility.
A) institutional
B) managerial
C) regulation
D) professional obligation
A
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For each item below, indicate whether a debit or a credit applies
a. Increase in Art Fees Earned b. Decrease in Prepaid Rent c. Decrease in Unearned Fees d. Increase in Common Stock e. Increase in Depreciation Expense, Buildings f. Increase in Interest Receivable g. Decrease in Retained Earnings h. Increase in Dividends i. Increase in Notes Payable
Holders of preferred stock normally do not have
A) preference as to dividends. B) preference as to assets in liquidations. C) full voting rights. D) ownership interests in the corporation.
Purchase of a manufacturer’s finished product represents?
a. Independent demand b. Associated demand c. Dependent demand d. Restricted demand
Angela sued Tom for battery. Angela was awarded $30,000 for future medical expenses. Five years after the award, Angela realizes that her medical expenses will far exceed $30,000 . Under the single recovery principle:
a. Angela will be able to submit the additional medical bills to the court for payment. b. Tom will have to pay the additional medical bills. c. Tom will have a qualified privilege and only have to pay a portion of the additional medical expenses. d. Angela will have no recourse against Tom or the court for the medical expenses as long as the original award was reasonable.