Which of the following is most likely categorized as a business market?
A) government agencies that buy goods and services to produce public services
B) individuals who buy goods and services for personal consumption
C) firms that buy goods and services for further processing
D) firms that buy goods and services to resell for profit
E) retail outlets that buy goods and services to sell at discounted prices
C
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Under which of the following conditions would material flood damage be considered an extraordinary item for financial reporting purposes?
a. Only if floods in the geographical area are unusual in nature and occur infrequently. b. Only if the flood damage is material in amount and could have been reduced by prudent management. c. Under any circumstances as an extraordinary item. d. Flood damage should never be classified as an extraordinary item.
Consten, a French company, had exclusive rights to import and distribute German Grundig's electronic products into France
One of the competitors started bringing "parallel imports" into France illegally, importing Grundig product bought from a foreign supplier. Which of the following does not represent an action taken by different legal bodies? A) Consten's complaint was upheld by two French courts. B) The Paris Court of Appeals suspended the judgment of the French courts. C) The Paris Court of Appeal's judgment was based on pending a ruling by the European Commission. D) The European Commission ruled against Consten on the grounds that territorial protection proved to be damaging to the Common Market. E) The European Commission ruled that German Grundig was in violation of the laws of the Common Market.