Answer the following statement(s) true (T) or false (F)
1. The Foreign Corrupt Practices Act exempts U.S. firms from certain antitrust laws if they are working together to develop export markets.
2. The United States is often the target of dangerous products because it has weak regulation on imports.
3. The purpose of GATT is to efficiently monitor and establish effective tariffs and other barriers to international trade.
4. Originally over 120 nations agreed to follow the guidelines established by GATT. Now there are only 27 nations that support those guidelines.
5. Since it was organized GATT has sponsored several rounds of negotiations to reduce trade barriers.
1. FALSE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
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Based on the aging of its accounts receivable at December 31 . Quanto Company determined that the net realizable value of the receivables at that date is $760,000 . Additional information is as follows: Accounts Receivable at December 31 ................ $880,000 Allowance for Doubtful Accounts at January 1 ...... 128,000 (cr) Accounts written off as uncollectible during the year
............................................ 88,000 Quanto's doubtful accounts expense for the year ended December 31 is a. $80,000. b. $96,000. c. $120,000. d. $160,000.
The following information is available from Carron Company's 2014 accounting records: Purchases ............................................ $530,000 Purchase discounts ................................... 10,000 Beginning inventory .................................. 160,000 Ending inventory ..................................... 215,000 Freight-out .......................................... 40,000
Carron's 2014 cost of goods sold is a. $465,000. b. $475,000. c. $505,000. d. $585,000.
Which profitability ratio requires the use of earnings per share in its calculation?
A) Price-earnings ratio. B) Return on common stockholders' equity ratio. C) Dividend yield ratio. D) Return on sales ratio.
Manufacturing overhead is a pool of indirect production costs that must somehow be attached to each unit manufactured.
Answer the following statement true (T) or false (F)