Missouri Can Corporation (MCC) Manufactures and Sells a Variety of Can

question 51

Multiple Choice

Missouri Can Corporation (MCC) manufactures and sells a variety of can types, such as soft drink cans, oil cans and many others.MCC has adopted a functional organization structure that includes departments for accounting, marketing, manufacturing, human resources and information systems.The corporation has recently decided to complete its IPO.Which of the following statements is most true?

• A)If MCC has an in-house legal staff as part of its human resources department, it does not need to hire an outside attorney for the IPO.
• B)If MCC's accounting manager and chief financial officer are licensed CPAs, it does not need to hire an outside accounting firm for the IPO.
• C)Both if MCC has an in-house legal staff as part of its human resources department, it does not need to hire an outside attorney for the IPO and if MCC's accounting manager and chief financial officer are licensed CPAs, it does not need to hire an outside accounting firm for the IPO are true.
• D)Neither if MCC has an in-house legal staff as part of its human resources department, it does not need to hire an outside attorney for the IPO nor if MCC's accounting manager and chief financial officer are licensed CPAs, it does not need to hire an outside accounting firm for the IPO is true.

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Definitions:

Production Possibility Frontier

A curve depicting all maximum output possibilities for two goods, given a set amount of inputs, highlighting concepts of opportunity cost, efficiency, and trade-offs.

Idle Resources

Resources in an economy that are not being fully utilized, often leading to inefficiency.

Output

The total amount of goods and services produced by an economy or a production process.

Guns And Butter

A term used in economics to represent the trade-off between a nation's investment in defense and civilian goods.