The income effect explains why there is an inverse relationship between the price of a product and the quantity of the product demanded.

a. True

b. False

A company produces 11,900 units of which 200 are spoiled units because the process, even though carefully and efficiently executed is unable to produce good units 100% of the time.

An oligopoly exists when a firm offers a product that has no close substitutes, making the firm the sole source of supply. A. True B. False

Gerben is a small-scale apparel manufacturing company. its marketing team is planning to bring about a new line of clothing, and the marketing manager wants to involve employees in generating and evaluating ideas for the new product line.

Reason (s) for stock repurchases include all the following except:to acquire shares used in management stock option incentive programs, in which managers can purchase shares of stock at pre-specified prices.

Green Valley Bank sent Comstock Industries its end-of-month bank statement for July. The end of month balance by the bank is $11,237. The statement shows that a deposit for $4,250 is in transit at the end of the statement period.

Mullineaux Corporation has a target capital structure of 70 percent common stock and 30 percent debt. Its costs of equity is 15 percent, and the cost of debt is 8 Percent. The relevant tax rate is 35 percent.

That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement

Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.

Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.

During a certain four-year period, the consumer price index (CPI) increased by 30%, but during the next four-year period, it increased by only 10%. Which of these conditions must have existed during the second four-year period? A. Deflation B.