AASB 102 Inventories requires service providers to write down their inventories to net realisable value:

A) on a class-by-class basis (e.g raw materials) .
B) on an item-by-item basis.
C) on a group basis.
D) according to location or geographical segment within the entity.

Marginal cost _____ over the range of increasing marginal returns and _____ over the range of diminishing marginal returns.

A) increases;decreases
B) decreases;increases
C) is constant;decreases
D) increases;is constant

The government's role in a developing country is important during the country's development process because building social overhead capital

A) cannot be taken on by the private sector.
B) can only be financed by the private sector.
C) requires a joint venture between the public and private sectors.
D) can only be achieved in a developing country.

Carl, without Austin's knowledge, impersonates Austin and thereby convinces Lucía, who has never seen Austin, to write a check to Austin for upcoming yard work. Carl then forges Austin's name and deposits the check into his, Carl's, account. Which of the following is true regarding whether Lucía will be liable for the amount of the check?

A) Under the forgery rule, Lucía will be held liable.
B) Under the transferor rule, Lucía will be held liable.
C) Under the payee rule, Lucía will be held liable.
D) Under the imposter rule, Lucía will be held liable.
E) Under the fictitious payee rule, Lucía will not be held liable.

Affirmative action programs

A) involve the promotion of unqualified employees.
B) are not imposed by federal law on employers.
C) are not very commonly used anymore because of reverse discrimination concerns.
D) only involve the training of individuals.
E) involve the recruitment, hiring, promotion, and training of qualified individuals.

Which of the following is the first stage of the creative process identified by Graham Wallas?

A) Incubation
B) Perception
C) Inspiration
D) Verification