Business ethics involves
a. how managers decide on what is right in conducting business
b. how managers achieve what they decide is right for the business
c. both a and b
d. none of the above
C
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If velocity of money is 6, the price level is 1.2, and real output is worth $1,100 billion, what is the money supply?
A. $65 billion B. $153 billion C. $220 billion D. $5,500 billion
Exhibit 14-8 Piazzi, Inc sold $400,000 of its 9%, five-year bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used. ? Refer to Exhibit 14-8. The net liability for the bonds after recording the sale would be
A) $408,000. B) $407,700. C) $400,000. D) $393,000.
The accrual basis of accounting is often contrasted with the cash basis of accounting. Which of the following is/are true of the cash basis of accounting?
a. The cash basis is not subject to manipulation. b. Most larger companies use the cash basis of accounting. c. The cash basis of accounting provides a strong basis to determine the total assets of the company. d. The cash basis provides an inferior picture of operating performance. e. All of the above are true.
Describe the similarities and differences between the allowance method for uncollectibles and the allowance method for warranties