Appellate courts do not have to hear all of the cases they are presented.

True

False

When the price of audio books, a normal good, falls, causing your purchasing power to rise, you buy more of them due to A. the substitution effect. B. the deadweight loss effect. C. the income effect. D. the elasticity effect.

What is the relationship between wants and resources? A. Wants are developed by an individual's self-interest while resources are developed by empirical analysis. B. Resources are used to produce things that satisfy people's wants. C.

Economic analysis indicates that higher unemployment benefits will

Gates Corporation reported the following information concerning its direct materials: Direct materials purchased (actual) $ 673,000 Standard cost of materials purchased $ 688,000 Standard price times actual amount of materials used $ 444,000 Actual

Conversion costs are the sum of: a. fixed and variable overhead costs. b. labor costs and overhead costs. c. direct material costs and overhead costs. d. direct labor and indirect labor costs.

A company used straight-line depreciation for an item of equipment that cost $16,950, had a salvage value of $4,200 and a six-year useful life.

auditor uses the assessed level of risk of material misstatement to determine the acceptable level of detection risk for financial statement assertions.

A variable that likely is incorporated in the error term is A. the variable cost of production. B. the fixed cost of production. C. the weather. D. the minimum wage. E. profit from popsicle sales.

Kingston anticipates total sales for June and July of $420,000 and $398,000, respectively. Cash sales are normally 60% of total sales.

Jay Corporation owns several automobile dealerships. This year, the corporation initiated a policy of giving the top salesperson at each dealership a free vacation trip to Florida. The president believe that this is an effective sales incentive.