According to the mainstream economics view, unions are:
A. Tools of management that are used to suppress workers.
B. Monopolies that interfere with economic efficiency.
C. A symptom of poor management.
D. Effective at balancing the power between management and labor.
B. Monopolies that interfere with economic efficiency.
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Which of the following is characteristic of a change in accounting principle?
a. Requires the reporting of pro forma amounts for prior periods b. Does not affect the financial statements of prior periods c. Never needs to be disclosed d. Should be reported by retrospectively adjusting the financial statements for all years reported, and reporting the cumulative effect of the change in income for all preceding years as an adjustment to the beginning balance of retained earnings for the earliest year reported
An accounting _____ arises when a firm incurs an obligation to make a future sacrifice that, because of a past event or transaction, it has little or no discretion to avoid
a. asset b. liability c. shareholders' equity d. revenue e. expense
Which of the following statements is true?
a. When bonds are issued at a premium, the periodic cash payment to bondholders will exceed the cash payment that would have been made if the bonds had been issued at a discount. b. When bonds are issued at a discount, the periodic cash payment to bondholders will be less than the cash payment that would have been made if the bonds had been issued at a premium. c. When bonds are issued at a discount, the periodic cash payment to bondholders will be less than the cash payment that would have been made if the bonds had been issued at face value. d. When bonds are issued at a discount, the periodic cash payment to bondholders will be the same as the cash payment that would have been made if the bonds had been issued at face value. e. When bonds are issued at a premium, the periodic cash payment to bondholders will exceed the cash payment that would have been made if the bonds had been issued at face value.
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a. True b. False Indicate whether the statement is true or false