If a cost's step-cost behavior follows very narrow steps, the costs may be approximated using:

(A) fixed costs assumptions.

(B) step-fixed cost assumptions.

(C) straight variable cost assumptions.

(D) mixed cost assumptions.

Describe at least 4 types of internal controls a business might use to protect funds?

How is future price related to current demand? A) If the price is expected to rise, current demand will drop. B) If the price is expected to fall, current demand will rise C) If the price is expected to rise, current demand will rise.

In the country of Wiknam, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What isa. the growth rate of nominal GDP? b.

According to generally accepted accounting principles (GAAP), revenue is recognized as income when: a contract is signed to perform a service or deliver a good. managers decide to recognize it. payment is requested.

Suppose you purchased an income producing property for $95,000 five years ago. In Year 1, you were able to negotiate a lease that paid $10,000 per year at the end of each year.

The world is often described as having a global economy. How important is international trade to the United States?

Buyer of a good bear the larger share of the tax burden when a tax is placed on a product for whicha. the supply is more elastic than the demand. b. the demand in more elastic than the supply. c. the tax is placed on the sellers of the product. d.

Why is it important to distinguish between unilateral and mutual mistakes?

Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the production. c. are incurred regardless of sales volume. d. must be linked to strategy in the business plan

True or false: to promote stability in commodity markets, international commodity agreements have relied on production and export controls, buffer stocks, and multilateral contracts.