Question: 1
In his famous “I Have a Dream” speech, Dr. Martin Luther King, Jr. said, “I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.” What has yet to be done to fulfill Dr. King’s dream for American society? What could you do personally to help fulfill Dr. King’s dream?
Question: 2
You stated that a pre-sentence investigation could have a sentence rendered more harsh or less severe. Given what you know about the influence of pre-sentencing investigations what would your recommendation be for a repeat drug abuser and why?
Question:3
How do barriers to entry impact the level of competition in a market? What might happen to market price as greater barriers to entry come into existence? Not all barriers to entry are created through market conditions. Barriers to entry, such as patents, licenses, or international trade restrictions, may be government imposed. How do government-imposed barriers such as patents impact consumers and suppliers in these markets?
1.Physical inventory counts must be done:
A) when using the periodic method of inventory.
B) when using bar code scan technology.
C) when using the perpetual method of inventory.
D) regardless of method inventory.
2. The Cost of Goods Sold account appears on the:
A) balance sheet.
B) statement of retained earnings.
C) income statement.
D) post-closing trial balance.
3. Under the periodic inventory method, the amount of inventory is:
A) constantly updated.
B) only known when a physical count is taken.
C) adjusted after each sale.
D) adjusted after each purchase.
1. The inventory system that uses the merchandise inventory account as an asset account is called the:
A) periodic system.
B) perpetual system.
C) merchandising system.
2. The cost principle is the basis for preparing financial statements because it is __________.
A. the most accurate measure of purchasing power
B. relevant and objectively measured, and verifiable
C. an international accounting standard
D. a conservative value
3. The cost principle requires that when assets are acquired, they be recorded at __________.
A. list price
B. exchange price paid
C. selling price
D. appraisal value
D) retailing system.
1) “Generally accepted” in the phrase generally accepted accounting principles means that the principles __________.
A. have been approved for use by the managements of business firms
B. have substantial authoritative support
C. have been approved by the Internal Revenue Service
D. are proven theories of accounting
2) In what situations will a static budget be most effective in evaluating a manager’s effectiveness?
A. The company has no fixed costs.
B. The company has substantial variable costs.
C. The planned activity levels match actual activity levels.
D. The company has substantial fixed costs.
3) The major reporting standard for management accounts is __________.
A. generally accepted accounting principles
B. the Sarbanes-Oxley Act of 2002
C. relevance to decisions
D. the Standards of Ethical Conduct for Practitioners of Management Accounting and Financial Management
