Which of the following companies would be more likely to use the specific identification inventory costing method?

A) Gordon's Jewelers
B) Lowe's
C) Best Buy
D) Walmart

Refer to Figure 16.5. Suppose that instead of a tax, the government uses standards to achieve the emission reductions, requiring that each company cut its original emissions in half rather than allowing each company to choose emissions based on their costs. Compared to the outcome under the tax, this common standard would result in

A) Alpha gaining more than Beta loses.
B) Alpha gaining less than Beta loses.
C) Beta gaining more than Alpha loses.
D) Beta gaining less than Alpha loses.

Financial reporting focuses on reporting the impact of transactions on an entity's financial position.

Which of the following are customer costs at the market level?
i. Market research
ii. Regular sales calls
iii. Advertising campaigns
iv. Market development

A) i, ii and iii
B) ii, iii and iv
C) i, iii and iv
D) All of the given answers

Although the traditional format income statement is useful for external reporting purposes, it has serious limitations when used for internal purposes because it does not distinguish between fixed and variable costs.

As a team gets larger, all of the following things tend to happen EXCEPT:

A) communication problems often set in.
B) coordination of the team members becomes more difficult.
C) satisfaction may dip.
D) turnover and absenteeism decrease.
E) social loafing may increase.

The Federal Trade Commission may issue a cease and desist order having the effect of an injunction.

What type of relationship has formed when the parties have agreed that one person will have power to bind the other person in contract?

A) Principal-agent
B) Employer-employee
C) Employer-independent contractor
D) Employer-agent
E) Principal-independent contractor