John Walker loved his well paying job as an accountant with a mid-size local firm. His wife, Joan, a marketing executive at Vandelay, a major international latex products manufacturer, received a promotion to a higher level position within the company that required a move to Russia, but that would pay just slightly less than the couple's current combined income. John realized that it made him happier to move with his wife to Russia than to deny her what he realized was a once-in-a-lifetime career opportunity for her. John's reason for leaving his job to join his wife in Russia:
A. Is a rejection of Objectivism because it would leave the couple with less total income.
B. Is an application of Objectivism because it focuses on preserving the relationship closest to him at the expense of his own happiness.
C. Is a rejection of Objectivism because the consequence of the decision is to leave him, as an individual, less professionally well off.
D. Is an application of Objectivism because he is basing his decision on advancing his own rational self-interest by supporting his wife's career move.
Ans: D. Is an application of Objectivism because he is basing his decision on advancing his own rational self-interest by supporting his wife's career move.
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Which of the following statements describes the product differentiation strategy?
A) adding special features to a product for which customers are willing to pay more B) selling the same product in more than one market at different price levels C) pricing of product or services at moderate levels D) selling a range of products across different geographical locations
Before any month-end adjustments are made, the net income of Russell Company is $38,000
However, the following adjustments are necessary: office supplies used, $3,160; services performed for clients but not yet recorded or collected, $3,040; interest accrued on a note payable to bank, $3,640. After adjusting entries are made for the items listed above, Russell Company's net income would be: A. $38,000. B. $34,240. C. $41,160. D. $44,200.