Intro to Business Midterm

not for profit organizations but must meet specific guidelines in order to obtain tax exempt status. thesegl guidelines are structured by the

internal revenue service

Since business has been rapidly expanding a shot of sugar bakery decides to purchase a second industrial oven the cash paid for this oven would be listed in the ______ section of the statement of cash flow's

investing

A furniture manufacturer like IKEA would be considered with the producer price index because it

measures prices that manufacturers must pay for lumber and other wrong materials used in the manufacturing process

selling expenses are considered to be a type of

operating expense

If you were taking a commonsense approach to evaluating a firms accounting information which of the following would not be something that you would hope to see

pain great attention to current profit and not worry about the future

A letter of credit is issued by the transport carrier prove that it's been shipped

true

The international monetary fund make short term loans to developing countries experience balance of payment deficits

true

as a sole proprietor ship one disadvantage of a partnership his lack of continuity

true

long-term liabilities need not to be repaid for at least one year

true

typically the majority of the data gathered for an MIS come from external sources

false

what is the name given to the governing body of a corporation

Board of directors

you are the executive vice president for Cooper tire the tire maker you have the responsibility to locate land for a new distribution center in Mississippi and you own over 1000 access land near one site in Tupelo. this could create for you

A conflict of interest

which form of franchising is the most common today

A franchise or supplies brand names techniques or other services instead of a complete product

which of the following economic terms describes the total value of a nations goods or services that have been adjusted for inflation

Real gross domestic product

One of Samuel Slater's contributions to the development of American business was the use of

The Factory System

when importers and exporters do not trust one another and want to ensure that the importer receive the promise merchandise in the expo gets paid between representative they employ is

The local domestic banks involved in international business

A system where the basic economic questions are determined at least to some degree through centralized government planning is referred to as _____ economy

command

The form of business organization that experience double taxation is the

corporation

Can you stop at Subway to get sandwiches for lunch and you notice that they now have TCBY yogurt this is an example of

dual branded franchise

The Saudi Arabian government does not allow the consumption of alcoholic beverages within a country the Saudi Arabian government is imposing

embargo

Long term loans in the sale of corporate bonds are common sources of equity financing

false

in agreement between two franchisors is in which the two franchisors offer their products together is called double franchising

false

foreign licensing is similar to

franchising

A limited liability country is

taxed like a partnership

long-distance providers are becoming increasingly concerned about certain activities within their industry various companies come together voluntarily to implement new standards of social responsibility that members must abide by what seems to be the primary motivation in this cause for an increased interest in social responsibility

these companies have realize it is in their best interest to increase their social responsibility before they are once again subject to stricter regulations