For purposes of impairment tests,the fair value of an asset is defined by the FASB as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date.

An organization made errors in estimating the supply of human capital that became amplified along the supply chain,resulting in large overestimates of hiring needs.What term defines what is happening in this organization?

A) compounding errors
B) skill gap effect
C) human resource planning errors
D) bullwhip effect

The change in cash during a period is equal to the net income for the period.

The change in cash is equal to the change in liabilities less the change in equity plus the change in noncash assets.

Which of the following are the most important issues in merger negotiations?

A) post-merger control of the firm
B) post-merger control and the severance packages of laid-off staff
C) the negotiated price paid by the acquiring firms
D) both a and c

Suppose the domestic price (no-international-trade price) of copper is $1.20 a pound in the United States while the world price is $1.00 a pound. Assuming no transportation costs, the United States will

A) have a domestic surplus of copper.
B) export copper.
C) import copper.
D) neither export nor import copper.