Discuss how multinational corporations can be both a benefit and a detriment to society
As a benefit, multinational corporations affect what we eat, how we transport ourselves, what our communities look like, and how we take care of ourselves when we get sick. They provide new jobs, pay higher taxes, and produce new or less expensive goods and services. They introduce technology, capital, and skills to their host countries and raise the standard of living.
As a detriment, they have been blamed for hastening the collapse of traditional ways of life; for taking advantage of weak and/or corrupt governments in countries where they do business; for addicting the world population to unsustainable technologies while blocking technologies counter to their interests; and for intensifying the disparities between rich and poor.
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On December 1, 2019, Pinewood Company sold machinery to a customer for $2,000. Pinewood regularly sells machinery. The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest. Prepare the journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold. Omit explanation.
What will be an ideal response?
Section 3 of the Clayton Act applies to:
A. anticompetitive behavior. B. service contracts. C. true consignments. D. formal agreements only.
A lessor enters into a sales-type lease. Which of the following statements is true if the leased asset has an unguaranteed residual value?
A. The gross profit recognized is less than it would be if the residual was guaranteed. B. The gross profit recognized is more than it would be if the residual was guaranteed. C. The lessor should decrease the cost of goods sold by the amount of the unguaranteed residual value. D. The gross profit is the same as it would be if the residual was guaranteed.