What must every corporation do in maintaining and reporting its financial status?
A) Purchase stocks on margin
B) Use creative accounting practices
C) Support increased stock prices
D) Aim to maximize predicted profit margins
E) Conform to generally accepted accounting principles
Answer: E
Explanation: E) Every corporation must conform to generally accepted accounting practices (GAAP). This ensures that all corporations are held to the same standards for assessing their financial information.
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Henry was very excited to pick out his brand new pickup truck. While still trying to decide which one to choose, he ran out of time and had to leave for work. His sales representative, Ann, was eager to close the sale. Therefore, Ann decided to bring two trucks to his work that fit his main criteria. It was obvious to Henry which one he wanted to buy at that point. Why didn’t Henry notice the truck among the other trucks when he was at the dealership?
A. Henry did not value the truck at the dealership. B. We tend to perceive objects in terms of contrast. C. Henry did not recognize what he was looking for. D. He liked the extra attention that Ann gave him.
Concern for health and fitness is one reason that 51 million people in the United States report that they are trying to control their weight. This concern is an example of
A. changing regulatory forces. B. changing demographics. C. changing population composition. D. changing ethnic composition. E. changing values.
A common task of the senior mail clerk is to open and route mail to the appropriate departments or individuals when the mail has not been so addressed
Indicate whether the statement is true or false.
Kristin offers to sell land to Ian for $5,000. Ian says that $5,000 is too much but he will pay
$4,000. Kristin says no. Two days later, Ian accepts Kristin's original offer. Which of the following best describes this situation? A) Ian made a counteroffer, but Kristin's offer may still be accepted. B) Kristin may now accept Ian's counteroffer. C) Ian made a counteroffer, which terminated Kristin's offer. D) There is now a valid contract between Kristin and Ian.