In some states, a lender who charges a usurious rate forfeits both the principal and interest on the loan
a. True
b. False
Indicate whether the statement is true or false
True
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Distinguish between input-oriented principles and output-oriented principles and list at least three principles in each category.
What will be an ideal response?
At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,200,000. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?
A) Increase by $800,000 B) Decrease by $800,000 C) Not effect net income. D) Decrease net income by $200,000
Customer returns, product recalls, and deposit bottles all involve reverse logistics for the retailer
Indicate whether the statement is true or false
When evaluating the six-step decision making process, what occurs during the solution selection step?
A. Definition of the problem as clearly and precisely as possible. B. Details of every solution possible including ideas that seem farfetched. C. The process will begin again if the decisions made were incorrect. D. The solution that best solves the problem is selected.