Corporate “citizenship” involves making decisions beyond just maximizing profits and dividends.
Answer the following statement true (T) or false (F)
True
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The cost of an internally developed unidentifiable intangible is expensed as incurred. Accordingly, which one of the following costs would be expensed in the year it was incurred?
A) legal cost of obtaining a patent B) cost of improvements with a three-year life made to an asset that is being leased by the company for a five-year period C) costs of developing new software products with proven technological feasibility D) Costs of developing knowledge and skill levels for new management-level employees
Identify a true statement about the environmental legislation enacted in the 1970s.
A. It primarily addressed environmental concerns using tort law. B. It overestimated the influence that businesses can have in establishing a law. C. It focused mainly on providing compensation after the occurrence of pollution or any other environmental harm. D. It shifted the burden from those threatened with harm to those who would cause the harm.
Which of the following is true of the Colgate doctrine?
A) It is not a violation of Section 1 of the Sherman Act. B) It is an example of a horizontal restraint of trade. C) It is a per se violation of Section 1 of the Sherman Act. D) It is a rule of reason violation of Section 1 of the Sherman Act.
Rimsone, Inc. purchases 8,500 shares of the company's own $6 par common stock for $8 per share. Journalize the transaction
What will be an ideal response