________ risks are those that affect the MNE at the local or project level, but originate at the country level
A) Country-specific
B) Firm-specific
C) Global-specific
D) none of the above
Answer: A
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The most important purpose of a turnaround document is to
a. serve as a source document b. inform a customer of the outstanding amount payable c. provide an audit trail for the external auditor d. inform the bank of electronic funds deposits
The open purchase order file in the purchasing department is used to determine
a. the quality of items a vendor ships b. the best vendor for a specific item c. the orders that have not been received d. the quantity of items received
Stopyra Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted variable manufacturing overhead$28,200 Budgeted fixed manufacturing overhead$89,280 Budgeted hours 12,000labor-hours Actual production (a) 16,000unitsStandard hours per unit (b) 0.60labor-hoursStandard hours allowed for the actual production (a) × (b) 9,600labor-hours Actual variable manufacturing overhead$26,967 Actual fixed manufacturing overhead$74,280 Actual hours 8,900labor-hoursThe fixed overhead budget variance is:
A. $15,000 U B. $2,856 U C. $15,000 F D. $2,856 F
Meteor Motor Sales exchanged a car from its inventory for a computer to be used as a noncurrent operating asset. The following information relates to this exchange that took place on July 31 . 2014: Carrying amount of the car ............................ $30,000 Listed selling price of the car ....................... 45,000 Fair value of the computer ............................ 43,000 Cash
difference paid by Meteor ........................ 5,000 The exchange has commercial substance. On July 31 . 2014, how much profit should Meteor recognize on this exchange? a. $0 b. $8,000 c. $10,000 d. $13,000