Answer the following statements true (T) or false (F)
1. Respect for persons is the foundation of human rights.
2. Confucian thinkers downplay the importance of power and status.
3. Confucianism emphasizes the importance of character to building healthy relationships.
4. Aristotle lays out specific rules for making ethical decisions.
5. Utilitarianism is a deontological approach to ethics.
1. True
2. False
3. True
4. False
5. False
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Which of the following will NOT play a role in eliminating the shortcoming of the taxation system, particularly the fact that the tax system taxes nominal return rather than real return?
A. Eliminating taxation of interest B. Introducing inflation-indexed bonds C. Taxing only real interest income, not nominal interest income D. Reducing inflation to zero
Newt, a gun dealer, offers to sell a rare civil war musket to Rush, another dealer, for "$15,000, insurance and shipping paid by buyer." Rush responds, "I accept. Insurance and shipping costs divided equally between seller and buyer." The parties A)do not have a contract since the acceptance violated the mirror image rule
B)do not have a contract since Rush's response was a counteroffer. C)have a contact and, in the majority of states, the terms of the offeree control. D)have a contract and, in the majority of states, the different terms will cancel each other out.
On the maturity date of a $10,000, 3-month, 8% note, the borrower sends a check that includes the principal and all of the interest due on the note. What is the amount of the borrower's check?
A. $10,000 B. $10,600 C. $10,200 D. $10,800
Inventory errors cancel out at the end of ________ accounting periods.
A) 1 B) 2 C) 3 D) 4