What are inferior goods?

a. goods for which the demand falls when income rises

b. goods that no one wants to buy

c. goods for which the demand rises when income falls

d. goods that are not well produced

Drug companies are allowed to be monopolists in the drugs they discover in order to A. increase the availability of expensive but useful medications. B. encourage research. C.

Mijka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: (1) earned cash revenues of $28,900, (2) paid cash expenses of $13,300, and (3) paid a $1,600 cash dividend to its stockholders.

Donna, who is single and 30-years-old, has received several speeding tickets recently and was shocked by the effect on her auto insurance.

You own a company that produces pens. The marginal product of the last unit of labor input is 25 and the marginal product of the last unit of capital input is 75.

A private partnership whose shares are primarily offered to wealthy individuals and large institutions and which often makes high-stakes bets on the direction of the market is called: a. A mutual fund b. An annuity c. The net asset value d.

Sally's Sod Inc. provides lawn maintenance and has two different packages: Standard and Deluxe. Selected data related to each package is as follows: Standard Deluxe Contribution margin per package $40 $120 Direct labor hours per package 2 3 For the

The traditional business model of accounting is inadequate for governments and not-for-profit organizations primarily because businesses differ from governments and not-for-profit organizations in that

Slick Heating Company has $492,000 in direct labor expense, $318,000 in direct material expense, $24,000 in factory rent, and $98,000 in production supervisory overhead. What will be the total product cost under activity-based costing?

A checking account is sometimes also called a

If an intangible asset has a legal life of eight years but contractually the usefulness is limited to six years, a company will amortize the cost over: Six years. Seven years. Eight years. Either six or eight years is allowed.