The oil spill resulting from the 2010 Deepwater Horizon disaster . a. Resulted in a permanent ban on all offshore drilling in U. S. coastal waters b. is considered a minor incident compared to other oil spills c. eclipsed all non-point oil spills by 500% d. is the largest accidental oil spill in world history e. was quickly cleaned up, preventing loss of wildlife and damage to fisheries along the Gulf Coast

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.