For a manufacturer, measures of volume may include:
A. Both number of units produced and amount of direct materials used in production are correct.
B. Amount of direct materials used in production.
C. Number of units produced.
D. Number of square feet occupied.
Answer: A
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Which of the following is NOT a purpose of using of using ratios to explain different aspects of a company?
A) evaluating profitability B) evaluating stock as an investment C) evaluating the ability to pay current liabilities D) evaluating income tax return information
In a general partnership, which of the following acts must be approved by all the partners?
a. Dissolution of the partnership. b. Admission of a partner. c. Authorization of a partnership capital expenditure. d. Hiring an employee.
When business failure looks probable, the entrepreneur should seek outside advice.
Answer the following statement true (T) or false (F)
Employees will be able to obtain a proportionately high level of profits they generate (relative to the firm) if
A. suppliers are loyal to the firm. B. the firm's resources are path dependent. C. their expertise is firm-specific. D. the cost to the firm of replacing them is high.