Which of the following accounts is not considered an asset?
A) Accounts Receivable
B) Inventory
C) Accounts Payable
D) Trademark
C
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Which of the following is not a reason standard costs are separated in two components?
A) the price and quantity variances need to be identified separately to correct the actual major differences. B) identifying variances determines which manager must find a solution to major discrepancies. C) if a negative variance is over-shadowed by a favorable variance, managers may overlook potential corrections. D) variances brings attention to discrepancies in the budget and requires managers to revise budgets closer to actual.
The General Agreement on Tariffs and Trade (GATT) ______.
a. is a treaty governing interstate commerce within different countries b. is designed to promote trade between different states within a country c. levies a flat rate or tariff on trade between member countries d. was established in 1947
Agreements between competitors that have the effect of diminishing competition are called vertical competition agreements
Indicate whether the statement is true or false
When it comes to administrative agencies, courts: A)regard agencies as able to perform their duties effectively
B)accept rules that have been established by agencies using a rational basis. C)do not substitute their own judgment in agency decisions. D) All of these.