Answer the following statement(s) true (T) or false (F)
1. A business is any organization that employs managers and workers in producing goods or services.
2. Another term for the free market system is free enterprise.
3. The exchange of goods and services for money (business) encourages us to be self-sufficient.
4. All business owners are entrepreneurs.
5. Businesses and the environments in which they operate are always changing.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
5. TRUE
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Your company plans to produce a new product, a wireless computer mouse. Two machines can be used to make the mouse, Machines A and B. The price per mouse will be $25.00 regardless of which machine is used. The fixed and variable costs associated with the two machines are shown below. At the expected sales level of 30,000 units, how much higher or lower will the firm's expected EBIT be if it uses Machine B with high fixed costs rather than Machine A with low fixed costs, i.e., what is EBITB - EBITA ? Machine AMachine BPrice per mouse (P)$25.00$25.00Fixed costs (F)$100,000$400,000Variable cost/unit (V)$17.00$11.00Exp. unit sales (Q)30,00030,000?
A. -$102,000 B. -$129,600 C. -$93,600 D. -$118,800 E. -$120,000
Kreighton Manufacturing purchased on credit £46,000 worth of production materials from a British company when the exchange rate was $1.93 per British pound. At the year-end balance sheet date the exchange rate increased to $2.72. If the liability is still unpaid at that time, Kreighton must record a:
A. gain of $125,120. B. gain of $36,340. C. loss of $36,340. D. loss of $125,120. E. neither a gain nor loss.
The ________ includes all international economic transactions with income or payment flows occurring within the year
A) capital account B) current account C) financial account D) IMF account