IFRS guidelines can trigger an impairment loss that would not be triggered by U.S.GAAP.

Desktop videoconferencing systems (DVCSs)are useful to virtual teams because they allow more complex communication among team members.

(Last Word) Most people do not steal because:

A) stolen goods are subject to the law of diminishing marginal utility.
B) the marginal utilities of stolen goods are negative.
C) their marginal costs,including guilt costs,are too high.
D) stolen goods can only be sold at deep discounts.

Convergence may be a long process because the roots of development go back centuries.

A 1-year oil futures contract is selling for $74.50. Spot oil prices are $68, and the 1-year risk-free rate is 3.25%.
The arbitrage profit implied by these prices is ________.

A) $6.50
B) $5.44
C) $4.29
D) $3.25

The traditional income statement is intended to measure profits by identifying cash flows in and out of the firm over an accounting period.

Refer to Figure 4.5. Assume that initially there is free trade. If the United States then imposes a $10.00 tariff per CD-Rom drive on imported CD-Rom drives,

A) the quantity of CD-Rom drives demanded will be reduced by 6 million.
B) the quantity of CD-Rom drives supplied by U.S. firms will increase by 3 million.
C) the price of CD-Rom drives in the United States will decrease to $5.
D) U.S. imports of CD-Rom drives will increase by 3 million.