Additional business in the form of a special order of goods or services should be accepted when the incremental revenue equals the incremental costs.
Answer the following statement true (T) or false (F)
False
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Flexible manufacturing systems are
a. designed to provide more flexibility in a firm's manufacturing process by using computer-aided machinery. b. the same as computer-aided design systems. c. commonly used by firms that need to make large quantities of one product. d. are very complicated and cause increased defect rates in output.
Answer the following statement(s) true (T) or false (F)
1. Checks are a form of demand deposit and represent the vast majority of the financial transactions conducted in the United States. 2. M2 includes time deposits, money market accounts, currency, and demand deposits. 3. Although credit cards are not officially considered to be money they operate as a medium of exchange. 4. The use of credit cards peaked during the 1990s but is dropping at this time. 5. The National Banking Act of 1863 created a banking system of state-chartered banks.
Bob and Ray own a vacation home as joint tenants with each having 50 percent ownership. Ray
then sells his 50 percent to Steven without Bob's knowledge. Two weeks later Steven dies unexpectedly. Which of the following is true? A) Steven never got half the property because Ray's attempted sale was ineffective since it was made without Bob's knowledge. B) Steven's share of the property goes to Bob. C) Steven's share of the property passes according to the terms of Steven's will. D) Steven's share of the property goes back to Ray.
Sally tells you that she is in a dispute with her employer regarding whether in denying Sally a promotion she wanted, the employer committed sex discrimination. Sally says that she has heard about both mediation and arbitration and asks you which would result in a quicker judgment in her favor because she does not particularly want to go to the time and expense of a court action. Sally also asks
if, as a friend, you will go with her when she consults with a lawyer. What would you tell Sally regarding whether she should choose mediation or arbitration? a. That mediation and arbitration are essentially the same thing. b. That a mediator would actually decide the case whereas an arbitrator would not. c. That an arbitrator would actually decide the case whereas a mediator would not. d. That both an arbitrator and a mediator would decide the case but that an arbitrator is required to be a lawyer whereas a mediator is not.