An Accountant Is Starting a New Job and Wants to Make

question 26

Multiple Choice

An accountant is starting a new job and wants to make sure he does not put himself or his company at legal risk.He talks to his company's law department about which areas of law he should brush up on.The company lawyer tells him relevant areas of the law he should be aware of include:

• A)Product liability,comparative law,agency law
• B)Liability of accountants,international law,employment discrimination
• C)White collar crime,liability of accountants,contracts
• D)Antitrust law,liability of accountants,insurance law
• E)Antitrust law,international law,consumer law

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Definitions:

Optimal Consumption Bundle

The combination of goods and services that maximizes a consumer's utility given their budget constraints.

Marginal Utility

The further benefit or pleasure derived by consuming an additional unit of a given good or service.

Weekly Income

The total amount of money earned or received by an individual or household over the course of a week.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget.