Claxton FruitcakesOne common Christmas tradition in many households is the Claxton fruitcake. The fruitcake bakery in Claxton, Georgia, makes about 6 million pounds of fruitcake annually and has $12 million in sales. One fruitcake batch weighs 375 pounds. About 70 percent of that weight is fruits and nuts. A single batch is divided into 34 loaf pans that hold 11 pounds each. Loaves are cooked for 100 minutes at 375 degrees. The bakery can cook 6,000 pounds at a time. During the baking season (August-December), the bakery uses a tractor-trailer load of raisins each day. The suggested retail price of a one-pound Claxton fruitcake is $3.69.Refer to Claxton Fruitcakes. In terms of business-to-business products, the large ovens in which the cakes are baked are examples of:
A. component parts
B. MRO equipment
C. specialty equipment
D. processed supplies
E. major equipment
Answer: E
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Changes in fair value of securities are reported in the stockholders' equity section of the balance sheet for which type of securities?
a. Marketable equity securities b. Available-for-sale securities c. Trading securities d. Held-to-maturity securities
Which of the following statements does not apply to the study by Lev that examined earnings numbers and stock returns?
a. According to Lev, over time, the correlation between earnings numbers and stock returns has been low. b. Lev believed that earnings have very little explanatory power relative to changes in stock prices. c. Lev believed that one of the primary reasons for the level of correlation between earning and stock returns lies with the low quality of reported income numbers. d. The study’s results contradicted those of the Ou and Penman study.
Felix lost his job at an investment firm because of downsizing during a period of recession. To keep himself financially stable, he opened a food truck that became a huge success. Which of the following advantages of entrepreneurship initially motivated Felix to start the food truck?
A. Survival B. Independence C. Flexibility D. Challenge
National Trucking Corporation files a suit in a state court against Odell's Service Company (OSC), and wins. OSC appeals the court's decision, asserting that the evidence presented at trial to support National's claim was so scanty that no reasonable jury could have found for the plaintiff. Therefore, argues OSC, the appellate court should reverse the trial court's decision. Is the appellate court likely to reverse the trial court's findings with respect to the facts? If not, why not? What are an appellate court's options after reviewing a case?
What will be an ideal response?