In the context of the U.S. economy, small firms tend to be effective innovators because of the presence of revolutionary new ideas.
Answer the following statement true (T) or false (F)
True
Small businesses are much more likely to develop revolutionary new ideas. Small patenting firms produce about 16 times more patents per employee than their large-firm counterparts, and those patents are twice as likely to be found among the top 1% of highest-impact patents. See 7-6: Small Business and the Economy: An Outsized Impact
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One of the 14 principles of management identified by Henri Fayol was the subordination of individual interest to the general interest.
Answer the following statement true (T) or false (F)
On October 1, Year 1, Harrison Company borrowed money by issuing a $24,000 face value discount note to its bank. The note had an 8% discount rate and had a one-year term to maturity. On December 31, Year 1, Harrison should accrue interest expense in the amount of $1,920.
Answer the following statement true (T) or false (F)
The advantage of offering a price promotion during periods of low demand to shift some of the demand into a slow period is
A) a demand pattern that is less expensive to supply. B) very high inventory costs because inventory needs to be carried from period to period. C) in the fact that a firm could get by with a smaller, more expensive factory. D) much of the expensive capacity would go unused during most months when demand was lower.
A(n) _____ can operate under simpler arrangements than conventional corporations.
A. statutory close corporation B. Z corporation C. S corporation D. nonprofit corporation