To Cody, the written law of a particular society at a particular time is most significant. Cody is a
a. legal positivist.
b. legal rationalist.
c. legal realist.
d. person who adheres to the natural law school.
a
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Successful businesses have learned that ethical behavior
a. is sometimes not possible when persuading people in lower socioeconomic groups. b. is sometimes not advantageous if the desired action cannot be achieved. c. is never followed by negative legal consequences. d. is good for business in the long run.
If a given investor believes that a stock's expected return exceeds its required return, then the investor most likely believes that
A. the stock is experiencing supernormal growth. B. the stock should be sold. C. the stock is a good buy. D. management is probably not trying to maximize the price per share. E. dividends are not likely to be declared.
Boerkian Co. started 2018 with two assets: Cash of §26,000 (Stickles) and Land that originally cost §72,000 when acquired on April 4, 2015. On May 1, 2018, the company rendered services to a customer for §36,000, an amount immediately paid in cash. On October 1, 2018, the company incurred an operating expense of §22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary. Currency exchange rates were as follows: April 4, 2015§1=$0.28January 1, 2018§1=$0.29May 1, 2018§1=$0.30October 1, 2018§1=$0.31December 31, 2018§1=$0.35?Assume that Boerkian was a foreign subsidiary of a U.S. multinational company and the stickle (§) was the functional currency of the subsidiary. Calculate the translation adjustment for this
subsidiary for 2018 and state whether this is a positive or a negative adjustment. What will be an ideal response?
The volume variance is nonzero whenever:
A. standard hours allowed for the output of a period differ from the actual hours during the period. B. standard hours allowed for the output of a period differ from the denominator level of activity. C. actual fixed manufacturing overhead costs incurred during a period differ from budgeted fixed manufacturing overhead costs as contained in the flexible budget. D. actual hours differ from the denominator level of activity.