Which of the following is true about typical MNCs?

A. Most MNCs are said to be stateless.
B. Corporations are formed under international incorporation laws.
C. They remain national rather than international.
D. MNCs have become too transnational.

Answer: C. They remain national rather than international.

Business

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Consider the overall effects on Global Cleaning Service from selling and performing services on account for $6,400 and paying expenses totaling $2,500. What is Global Cleaning Services net income or net loss?

a. Net income of $3,900 b. Net loss of $3,900 c. Net income of $6,400 d. Net income of $8,900

Business

What was the significance of the controversy in 1977 over the appropriate accounting principles to be used by oil- and gas-producing companies?

A. Several major lawsuits resulted. B. Companies refused to follow the SEC's dictates. C. Partners of a major accounting firm were indicted on criminal charges. D. The SEC overruled the FASB on its handling of this matter.

Business