In Federal Trade Commission v. John Beck Amazing Profits, where Beck was sued by the FTC for deception in the sale of his "wealth creation" products, the court held that:
a. Beck's actions were "neutral" in that they did not make false statements; consumers may have inferred wrong things, but that is not a violation
b. the FTC was correct that Beck's infomercials contain misleading information that is material, so the sales would be stsopped
c. the FTC showed that the information presented by Beck was misleading, but failed to show that any harm had been inflicted on consumers
d. since Beck was only presenting information, that is protected by the First Amendment; so long as he did not actually make investments on behalf of investor/consumers, there was no actionable violation
e. Beck operated an internet-based company not regulated by the Telecommunications Act
b
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K. Canopy, the proprietor of Canopy Services, withdrew $5600 from the business during the current year. The entry to close the withdrawals account at the end of the year is:
A. Debit Income Summary $5600; credit K. Canopy, Capital $5600 B. Debit K. Canopy, Capital $5600; credit K. Canopy, Withdrawals $5600 C. Debit K. Canopy, Withdrawals $5600; credit K. Canopy, Capital $5600 D. Debit K. Canopy, Capital $5600, credit Salary Expense $5600 E. Debit K Canopy, Withdrawals $5600; credit Cash, $5600
A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:
A. $7,000. B. $(3,000). C. $(57,000). D. $(60,000). E. $(7,000).
In which of the following circumstances are competitive pressures associated with the bargaining power of buyers relatively moderate-to-weak?
A. Buyers tend to delay purchases of luxury goods, such as home entertainment systems, until they are on sale. B. Consumers can easily compare different smartphones' features over the Internet before buying them. C. Apple designs and manufactures its chip processors rather than buying them from Intel. D. The supply of soccer balls increases during the World Cup season. E. Dairy products are usually standardized and therefore differentiated only by price.
A hydraulic lift has a mean time between failures of 245 and mean time to repair of 20. In this case, the availability is ______.
a. 0.925 b. 0.970 c. 0.940 d. 0.930