Petro Parts Inc. makes and sells parts for the repair of motor vehicles. Olsen suffers a loss when a defective Petro part causes damage to her car’s engine. With respect to Olsen’s product liability suit against Petro, an applicable statute of repose
A. restricts the time within which Olsen may file a suit.
B. suspends the action until discovery is complete.
C. places an outer time limit on bringing the suit.
D. limits the amount of damages available.
Answer: C
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On January 3, 2018, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2018, Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4, 2019, Roberts sold 15,000 shares for $800,000.What is the appropriate journal entry to record the sale of the 15,000 shares? A)Cash800,000 Investment in Thomas 800,000B)Cash800,000 Investment in Thomas 780,000 Gain on sale of investment 20,000C)Cash800,000 Loss on investment12,000 Investment in Thomas 812,000D)Cash800,000 Investment in Thomas 790,000 Gain on sale of investment 10,000E)Cash800,000 Loss on sale
of investment15,000 Investment in Thomas 815,000 A. C Above. B. E Above. C. D Above. D. A Above. E. B Above.
Which of the following statements is true of the International Court of Justice?
A) It is the executive branch of the United Nations (UN) that helps interpret international law. B) It only hears cases of nations, and not of individuals and businesses. C) It does not have the authority to hear cases involving treaties and the UN Charter. D) It is headed by the secretary-general of the United Nations.
The two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer's purchase decision is referred to as
A. public relations. B. sales promotion. C. publicity. D. advertising. E. personal selling.
In the winter, Handyman Negri repaired snowblowers and in the summer he earned extra money by repairing lawnmowers, a classic example of:
A) promotional pricing. B) complementary products. C) mixed model service. D) yield management.