Grand Metropolitan is a consumer foods company headquartered in the United Kingdom. It has followed the common practice in the U.K. of treating expenditures on product development, quality control, and advertising as an expense each year. Grand Metropolitan has now decided to recognize the full value of its brand names as an asset on the balance sheet as of September 30, Year 6 . To keep the
balance sheet in balance and in accordance with U.K. practice, Grand Metropolitan will likely
a. decrease some other asset.
b. increase a current liability.
c. increase a noncurrent liability.
d. increase shareholders' equity.
e. decrease shareholders' equity.
D
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Diaz and Cuzco enter an express contract for the construction of a warehouse. Express contract terms are given, in relation to the parties' course of performance,
A. less priority. B. the same priority. C. no priority. D. more priority.
It is your 6th birthday today. You have a trust fund with $50,000 that is earning 8% per year. You
expect to withdraw $30,000 per year for 7 years starting on your 22nd birthday for graduate school. How much money will be left in the trust fund after your last withdrawal (rounded to the nearest $10)? A) $4,140 B) $125,660 C) $35,780 D) You will not have enough money to pay for graduate school.
Which of the following is true about knowledge of results?
A. It reflects the degree to which work tasks are viewed as something that "counts" in the employee's system of philosophies. B. It implies that trivial tasks tend to be less satisfying than tasks that make employees feel like they're aiding the organization in some meaningful way. C. It reflects the extent to which employees know how well (or how poorly) they are doing. D. It captures the degree to which employees feel that they are key drivers of the quality of the unit's work. E. It captures the degree to which employees feel like their efforts do not really matter because work outcomes are dictated by effective procedures.
In the U.S., the use of bills of lading is governed by: A) Federal Bills of Lading Act
B) The Convention on Contracts for the International Sale of Goods. C) Incoterms. D) none of the above.