In the United States, if two people independently develop the same invention, the patent will be
granted to the first to file for the patent, not the first to invent the invention.
Indicate whether the statement is true or false
FALSE
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When a leader fails to pass on information that is relevant to the interests of others, this is called ______.
a. an act of commission b. decisional morality c. an act of omission d. moral integrity
John loans George money and they sign a written agreement whereby George will repay John in monthly installments. Is this loan subject to the Truth-in-Lending Act?
a. Yes, if the loan is for more than $1,000. b. Yes, if John and George live in different states. c. No, if John is not in the business of offering credit. d. No, if John and George are related.
During July, Morris Corporation purchased $76,000 of raw materials on credit to add to its raw materials inventory. A total of $81,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $5,000 of indirect materials.Required:Prepare journal entries to record the purchase of materials and their use in production.
What will be an ideal response?
The expectations hypothesis states that investors
A) require higher long-term interest rates today if they expect higher inflation rates in the future. B) expect higher long-term interest rates because of the lack of liquidity for long-term bonds. C) require the real rate of return to rise in direct proportion to the length of time to maturity. D) normally expect the yield curve to be downsloping.