Which of the following statements is true of the Federal Trade Commission Act (FTC Act)?
A) It can sue only in state courts to obtain compensation on behalf of consumers.
B) It usually cannot enforce a cease-and-desist order in any case of violation.
C) Section 5 of the FTC Act excludes monitoring of firms indulging in any consumer malpractice.
D) It has been used extensively to regulate business conduct.
D
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When two or more companies compete for a contract with creative pitches, the process is sometimes called a shootout
Indicate whether the statement is true or false
How are assets which are expected to be realized in cash, sold, or consumed within the normal operating cycle of a business or within one year (if the operating cycle is shorter than one year) reported on a classified balance sheet?
a. Property, plant, and equipment b. Current assets c. Intangible assets d. Current liabilities
Which of the following is reported as a financing activity?
a. Payment of cash dividends b. Declaration of cash dividends c. Stock dividend d. Stock split
Two method used when accounting for uncollectible accounts are: the direct write-off method and the allowance method
Indicate whether the statement is true or false