What is the role of the World Trade Organization (WTO) dispute settlement body?
A. to serve as the "court of last resort" for appeals from the WTO appellate body
B. to create panel reports based on findings of fact and law
C. to hear and decide war disputes and issue sanctions against aggressor nations
D. to review WTO panel reports and adopt them if appropriate
Answer: D
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A contingency was evaluated at year-end. Management felt it was probable that this would become an actual liability and the amount could be reasonably estimated. If this was not reported on the balance sheet or in the notes to the financial statements, what is the effect on the financial reporting of the company?
A) There would be no effect. B) The liabilities on the balance sheet would be understated. C) The information about the transaction would be inadequately disclosed in the notes. D) The net income of the company would be understated.
The Telemarketing and Consumer Fraud and Abuse Prevention Act:
A. prohibits customers from demanding disclosure if the solicitation pertains to a prize promotion. B. requires that all disclosures must be made before the customer pays for the goods or services. C. allows telemarketers and sellers to deny a person the right to be placed on the do-not-call registry. D. prohibits calling between 8:00 p.m. and 8:00 a.m.
According to Chester Barnard, which of the following statements is true about a zone of indifference?
A. ?In this zone, managerial requests are not understood. B. ?In this zone, managerial directives are inconsistent with the purpose of an organization. C. ?In this zone, managerial authority is challenged. D. ?In this zone, managerial requests are automatically accepted.
In a 2003 survey of 153 Boards of Directors, _________ considered that SOX had a postive impact on firms
a. 15% b. 60% c. 27% d. 18%