Many people fear world trade because it:
a. closes the access to advanced technology for less developed countries.
b. slows down the rate at which people's living standards increase.
c. causes some people to lose their jobs due to production shifts abroad.
d. empowers governments to abuse the freedom and property of their citizens.
ANSWER: c
One of the negatives of world trade is that millions of people lose their jobs due to imports, production shifts abroad, or outsourcing of tech jobs. Employers often threaten to outsource jobs if workers do not accept pay cuts.
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Trademarks or trade names
A) ?must be renewed every 35 years. B) ?can be considered intangibles with indefinite lives. C) ?are developed internally and thus should not have any related costs capitalized and amortized. D) ?are synonymous with internally developed goodwill.
Nontrade receivables, such as deposits with utility companies or advances to subsidiary companies, should be
A) recorded in separate accounts and reported as noncurrent assets on the balance sheet. B) recorded along with trade receivables in one account and included as part of the total receivables balance on the balance sheet. C) recorded in separate accounts and separately reported on the balance sheet. D) recorded in separate accounts and reported as an offset to retained earnings on the balance sheet.
An annuity is a stream of equal cash payments made at equal time intervals
Indicate whether the statement is true or false
Fill in the blanks (a) through (g) for the Corman Company for each of the income statements for years 1 and 2Corman CompanyIncome StatementsFor the years ended December 31?Year 1Year 2Sales$10,000(e)Cost of goods sold?? Merchandise inventory (beginning)375750 Total cost of merchandise purchases3,6254,875 Merchandise inventory (ending) 750(d) Cost of goods sold(a)5,000Gross profit6,7505,200Operating expenses 3,750(c)Net income(b)$ 2,500???
What will be an ideal response?