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Economics
7. Firms involved in a cartel enter into collusive agreements. Collusion can be successful in some cases, but not in all. Which of the following factors is most likely to cause collusion to be suppressed?
A Homogenous products.
B Few firms having similar market shares.
C Similar cost structures.
8. Which of the following companies has the lowest quality of financial reporting?
A. A company that combines the results of the two segments it operates in: healthcare and retail.
B. A company that reports good performance due to favorable exchange rate movement.
C. A company that provides delayed reports, but ones that are GAAP-compliant and decision-useful.
9. The following situations are likely to require a separate procurement account by:
A. the periodic inventory system.
B. the perpetual inventory system.
C. the specific identification valuation method.
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