Which of the following is uncharacteristic of a socialist economy?
A. All capital and capital goods are privately owned.
B. The government owns and controls key industries.
C. Land and raw materials may be the property of the state.
D. What to produce and how to produce it are based on national goals.
E. Distribution of goods and services is controlled by the state.
Answer: A
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Well-trained salespeople can add value to the traditional retail shopping experience. Selling for a retailer might involve which of the following products?
A) personal computers, automobiles and assembly line robotics equipment B) photographic equipment, industrial specialties and recreational equipment C) fashion apparel, personal computers and recreational vehicles D) microchips, musical instruments and automobiles E) software back-end integration services, jewelry, and motorcycles
Companies use transfer pricing to accomplish all of the following except:
a. ensure optimal resource allocation. b. change a cost center to a pseudo-profit center. c. enhance goal congruence. d. to compute the sales volume variance.
Compare and contrast the Balance Sheet and the Statement of Cash Flows.
What will be an ideal response?
A company's old machine that cost $40,000 and had accumulated depreciation of $22,000 was traded in on a new machine having an estimated 20-year life with an invoice price of $45,000. The company also paid $33,000 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:
A. $51,000. B. $45,000. C. $40,000. D. $18,000. E. $33,000.