Answer the following statement(s) true (T) or false (F)
1. one disadvantage of a general partnership is each partners' responsibility for the acts of all other partners
2. a proxy is a written promise issued by a corporation to repay borrowed money at a later date
3. one of the principal reasons that companies merge is to diversify their product lines
4. an income statement is prepared by businesses to report sales, expenses, profits, and other financial activities
5. sole proprietorships must request a charter from the state in which they are organized
1. true
2. false
3. true
4. true
5. false
You might also like to view...
During the 2008-09 recession, the U-6 measure of the unemployment rate
A) which counts marginally attached workers and discouraged workers as unemployed, reached 17 percent. B) which counts marginally attached workers and discouraged workers as employed, reached 10 percent. C) which counts marginally attached workers as unemployed but does not count discouraged workers as unemployed, reached 17 percent. D) which counts all part time workers as employed, reached 12 percent. E) which counts discouraged workers as unemployed but does not count marginally attached workers as unemployed, reached 17 percent.
Assume two locally owned used car dealerships that have been in direct competition for many decades. They have a choice of selling high-quality cars at a high price but also high costs because of the repairs that have to be made
The other choice is to sell low-quality cars at a low cost but market them as high quality cars. Explain using game theory why it is in the interest of both of these companies to continue to sell high-quality cars but it may not necessarily be in the interest of a new out-of-town dealership that has recently moved into town to do the same.
An increase in interest rates might ________ saving because more can be earned in interest income
A) encourage B) discourage C) disallow D) invalidate
The monopolist produces at minimum average total cost to maximize efficiency
Indicate whether the statement is true or false