In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the ethics of exchange between buyers and sellers. These were the right: (1) to safety; (2) ________; (3) to choose; and (4) to be heard.
A. to privacy
B. to be informed
C. to receive fair prices for both products and services
D. to be treated without prejudice
E. to be treated with respect
Answer: B
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Briefly explain the norm of reciprocity.
What will be an ideal response?
A firm is considering the purchase of an asset whose stand-alone risk is greater than the average risk of its existing portfolio of assets. In evaluating this asset, the decision maker should:
A. increase the internal rate of return (IRR) used to evaluate the asset to reflect its higher risk. B. increase the asset's net present value (NPV) to reflect its higher risk. C. reject the asset because its acceptance would clearly decrease the value of the firm. D. ignore the asset's higher risk if, after purchase, it will make up only a small fraction of the firm's total assets. E. increase the required rate of return that is used to evaluate the asset to reflect its higher risk.
Interorganization networks are led by what is referred to as “network choreographers”; which of their identified roles requires them to hold the vision and be comfortable with the ambiguity inherent in creating and growing something new?
a. entrepreneurs b. passionate advocates c. coaches and mentors d. indefatigable communicators
When a company is preparing a budgeted statement of cash flows, the payments for selling and administrative expenses can be obtained from the ________
A) budgeted payments for direct materials purchases B) sales budget C) cash budget D) budgeted balance sheet