What are the advantages and disadvantages of the adversary system?
What will be an ideal response?
Advocates of the adversary system believe that truth is most effectively determined as a result of each lawyer presenting his or her client's "case" through witnesses, and that deception and misperception are best exposed through cross-examination. In addition, the system makes it more difficult for a dishonest or biased judge to control the outcome of a case. Critics argue that honest witnesses can be confused by hostile questioning. They say that the system does not work when the opposing lawyers are of unequal skill. This gives an advantage to the wealthy, who can hire better lawyers. Furthermore, the competition to win can encourage suppression of unfavorable facts and overstatement, if not misstatement, of the truth.
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A fair value hedge
a. is a derivative instrument acquired to hedge exposure to changes in the fair value of an asset or liability. b. must be revalued each period and the resulting gain or loss is reflected in contributed capital each period. c. is not revalued each period with no recognition given of the resulting gain or loss in earnings. d. must be accounted for under the lower of cost or market principles. e. must be revalued each period and the resulting gain or loss is reflected in reserves for contingencies each period.
Which method of evaluating capital investment proposals uses present value concepts to compute the rate of return from the net cash flows expected from capital investment proposals?
A) Internal rate of return B) Cash payback C) Net present value D) Average rate of return
Identify the steps to building a brand
What will be an ideal response?
Under a JIT system,
A) customer demand pulls units through the production line. B) safety stock is set at relatively high levels. C) stockouts are never a problem. D) inventory levels are set at 10% of total production levels. E) production is set at a level to maximize factory output.