Arthur Jones distributes rawhide to several different homes. In turn, each household produces a product such as satchels, belts, shoes, and boots, and then Arthur sells the finished goods. This represents a(n)
A. oligopoly.
B. domestic system.
C. system of specialization.
D. factory system.
E. barter system.
Answer: B
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Indicate whether each of the following statements about financial statement analysis is true or false.Meaningful comparisons between two companies generally should be made using percentage analysis or ratio analysis, not absolute amounts. ______The materiality of accounting information refers to whether it is viewed as favorable (good news) or unfavorable (bad news). ______Companies must account for immaterial items in compliance with generally accepted accounting principles. ______To judge the materiality of an absolute financial statement amount, one must consider the size of the company reporting it. ______Comparing percentages derived from financial statement analysis has the drawback of varying materiality levels. ______
What will be an ideal response?
Some observers argue that insider trading is an efficient means to disseminate accurate information about the market and that it moves the markets in the direction of equilibrium. The challenge to this argument is, however, that this is accomplished by unfair and unethical means.
Answer the following statement true (T) or false (F)
The current portion of long-term debt is classified as a current liability only if it is due within the next year and is to be paid from current assets
Indicate whether the statement is true or false
Avoid _________________ acronyms, especially if your readers are unlikely to be very familiar with them
a. corporate b. overusing c. scientific d. familiar