The source of law best suited to making drastic or comprehensive change is:
a. common law.
b. the federal court system.
c. statutes.
d. state court decisions.
c
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If the likelihood of a future event is probable and the amount of the expense cannot be estimated, how should the company report the contingency?
What will be an ideal response?
The cost of monitoring management is known as ________ in agency theory.
a. Agency cost b. Agency control c. Agency effort d. None of the above
Generally speaking, a high price-earnings (PE) ratio indicates which one of the following as compared to a low PE ratio?
A. Slower growth B. Slower dividend increases C. Lower earnings D. Greater risk
Which of the following statements accurately depicts an advantage that small business has over big business?
A. The slower pace of small businesses translates into better quality for its customers. B. A small business can maneuver and change quicker than most large businesses can. It can react to market conditions and customer concerns much faster. C. If the small business owner can project his business as being big, if not very similar to big businesses that sell in the same industry, then he will realize a significant advantage. D. The size of the business (small being better in this case) is an important consideration in the management of legal, payroll, and tax concerns.