A purchase of land in exchange for a long-term note payable must be disclosed as a noncash investing and financing activity.

Jorge is working on a global marketing assessment team looking well into the future to determine the most attractive market areas around the world. He is evaluating market sizes and growth rates. Based on population growth rates in different regions, he should consider that

A) countries with high purchasing power today may not continue to show the same growth in the future.
B) the United States and Western Europe will have dramatic increases in population growth leading to overcrowding.
C) the middle class in India will continue to shrink as the rich get richer and the poor get poorer.
D) in places like India, urban population centers will become increasing unattractive and the rural areas will experience major growth in population.
E) the global population is expected to grow at staggering rates indefinitely.

Dunbar Footwear Corporation's flexible budget cost formula for supplies, a variable cost, is $2.67 per unit of output. The company's flexible budget performance report for last month showed a $9,604 favorable spending variance for supplies. During that month, 19,600 units were produced. Budgeted activity for the month had been 19,200 units. The actual cost per unit for indirect materials must have been closest to:

A) $1.73
B) $2.67
C) $2.18
D) $1.69

Overseas Shipping Corporation and Port Storage Company transfer their assets to Quality Operations, Inc., which manages the assets and distributes the profits to the beneficiaries. This form of business organization is

A) a business trust.
B) a joint stock company.
C) a joint venture.
D) a syndicate.

Over the 1970-2005 period, the risk premium on small stocks has averaged ________ per year.

A) 0.0%
B) 1.95%
C) 2.35%
D) 7.53%
E) 14.16%

When long-run average total cost is constant as output increases,the firm has constant returns to scale.

In which of the following U.S.occupations is the rate of unionization the lowest?

A) Transportation workers.
B) Teachers.
C) Legal workers.
D) Sales workers.