The economic entity assumption states that in the absence of information to the contrary, the business entity will continue to operate indefinitely.
Answer the following statement true (T) or false (F)
False
The economic entity assumption states that we identify all economic events with a particular economic entity. In other words, only business transactions involving the specific company should be reported as part of the company's financial accounting information.
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The Supremacy Clause establishes that the fundamental legal and political authority is vested in the citizens of the United States of America.
Answer the following statement true (T) or false (F)
What is a business portfolio? How does a company typically conduct a portfolio analysis?
What will be an ideal response?
Jupiter Steel is the chief provider of metals to Greystone Motors. Greystone Motors has two models of cars — one for commercial and regular consumers and another for professional car racing teams
Greystone Motors has designated dealers to sell its commercial cars to consumers, while racing cars are sold directly to the racing teams. In such a distribution channel, which of the following would be considered a horizontal conflict? A) a conflict between Jupiter Steel and Greystone Motors B) a conflict between Jupiter Steel and Greystone dealers C) a conflict between two Greystone Motors car dealerships D) a conflict between a Greystone Motors car dealership and a racing team E) a conflict between Greystone Motors and its car dealerships
Nicole regularly inflates invoices to get a larger commission on her sales. She knows that most salespeople at her organization inflate their invoices by about 20%. Nicole only inflates hers by 10%. She figures if anyone gets caught, hers will look like honest mistakes compared to the others. It appears Nicole’s justification for her unethical behavior is ______.
A. disregard or distortion of consequences B. I did it for the good of others or the company C. I was only following orders D. I’m not as bad as the others