Friedman referred to the social responsibility of business as a "fundamentally subversive doctrine."

Nicholas Smith Fitness Gym has $ 700, 000 of 20-year bonds payable outstanding. These bonds had a discount of $ 56, 000 at issuance, which was 10 years ago. The company uses the straight-line amortization method. The current carrying amount of these bonds payable is

A. $ 672, 000. B. $ 644, 000. C. $ 700, 000. D. $ 728, 000.

Which of the following was the weakness of the Bretton Woods system?

A. It could be wrecked by heavy borrowings from the World Bank and the International Monetary Fund. B. It could not work if the U.S. dollar was under speculative attack. C. The inflexibility of the system resulted in high unemployment. D. It forced fiscal and monetary discipline on participating nations. E. It allowed the countries to engage in competitive currency devaluations.