If a statute is found to be applicable to a fact situation, then the courts will hold that an unexcused violation of that statute which causes an injury to another is:

A) strict liability.
B) res ipsa loquitur.
C) negligence per se.
D) assumption of the risk.

Intask Corporation uses the first-in, first-out method in its process costing system. Beginning inventory in the mixing department consisted of 6,000 units that were 75% complete with respect to conversion costs. Ending work in process inventory consisted of 5,000 units that were 60% complete with respect to conversion costs. If 12,000 units were transferred to the next processing department during the period, the equivalent units of production for conversion cost would be:

A) 12,500 units
B) 10,500 units
C) 13,500 units
D) 13,000 units

Williams Company's direct labour cost is 25% of its conversion cost. If the manufacturing overhead cost for the last period was $45,000 and the direct materials cost was $25,000, the direct labour cost was:

A) $33,333.
B) $15,000.
C) $20,000.
D) $60,000.

The severity of the 2007-2009 recession was increased because of the

A) election of a Democrat President.
B) loss of congressional control by the Republicans.
C) extreme tightening of credit in 2008.
D) the stimulus bill and the TARP funds for the financial industry.

Which of the following supermarket strategies to increase sales would be most consistent with a behavioral economics (versus neoclassical economics) approach?

A) distributing online coupons
B) providing discounts for buying in bulk
C) positioning frequently purchased items at the back of the store
D) offering price matching with other stores

In the context of note-taking, the _____ involves citing the exact words from a source.

A) paraphrase method
B) explanatory method
C) direct quotation method
D) summary method