Which of the following is the main objective of the SCORE program administered by the SBA?
a) providing one-on-one counseling to active and new-to-export businesses
b) acting as the export marketing department for their U.S. exporting firms
c) running trade houses in various cities across the United States
d) providing legal services to exporters and importers in the United States
Ans: a) providing one-on-one counseling to active and new-to-export businesses
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Judd, Inc., owns 35% of Cosby Corporation. During the calendar year 2012, Cosby had net earnings of $300,000 and paid dividends of $30,000. Judd mistakenly recorded these transactions using the fair value method rather than the equity method of accounting. What effect would this have on the investment account, net income, and retained earnings, respectively?
a. Understate, overstate, overstate b. Overstate, understate, understate c. Overstate, overstate, overstate d. Understate, understate, understate
Which one of the following illustrates an inelastic demand?
a) A price elasticity of demand equal to 1.0. b) A price elasticity of demand equal to 2.0. c) A 10 percent rise in price leads to a 20 percent decrease in quantity demanded. d) A 10 percent rise in price leads to a 5 percent decrease in quantity demanded. e) A price elasticity of demand equal to infinity.