Which of the following is a reason why large corporations have the ability to influence legislation?
A. Their size, resources, and sophistication give them the capability to purchase this ability.
B. Corporate managers are always aware of the effects of their products or production processes.
C. There are no limits on the law's ability to control irresponsible corporate behavior.
D. The state legislatures cannot enact hostile regulatory legislation.
Answer: A
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Which of the following is a complex sentence?
A) Madrid has many museums and art galleries. B) The city is well known for its nightlife, and its cafes are popular with tourists and locals alike. C) Though bullfighting is censured by some, its popularity in Madrid continues unabated. D) Madrid is a historical and cultural center in Spain. E) The nightlife of Madrid is deservedly famous, but classical music still finds firm followers.
MacKenzie Company sold $600 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4.5% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be:
A. Debit Cash of $600 and credit Sales $600. B. Debit Accounts Receivable-Regional $573.00; debit Credit Card Expense $27.00 and credit Sales $600. C. Debit Cash of $600 and credit Accounts Receivable-Regional $600. D. Debit Cash $573.00 and credit Sales $573.00. E. Debit Cash $573.00; debit Credit Card Expense $27.00 and credit Sales $600.
Wyatt Corporation has the following standard costs associated with the manufacture and sale of one of its products: Direct material $3.00 per unit Direct labor 2.50 per unit Variable manufacturing overhead 1.80 per unit Fixed manufacturing overhead 4.00 per unit (based on an estimate of 50,000 units per year) Variable selling expenses .25 per unit Fixed SG&A expense $75,000 per year During its
first year of operations Wyatt manufactured 51,000 units and sold 48,000 . The selling price per unit was $25 . All costs were equal to standard. Refer to Wyatt Corporation. Under variable costing, the standard production cost per unit for the current year was a. $11.30. b. $7.30. c. $7.55. d. $11.55.
The basic formula for ________ is Price = Direct costs + Overhead + Profit margin.
A. Return on investment B. Net profit C. Contribution margin D. Cost-based pricing E. ABC costing