The Robinson-Patman Act Says That to Be Legal, Price Differences

question 45

Multiple Choice

The Robinson-Patman Act says that to be legal, price differences must be based on:

• A) a need to meet competition and cost differences
• B) a reasonable profit margin as determined by the FTC
• C) freight costs
• D) transportation differences
• E) None of these alternatives is correct.

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Definitions:

Standard Mileage Rate

A set rate per mile that taxpayers can use to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Vehicle Expenses

Costs incurred from the use of a vehicle for business purposes, including gas, repairs, and insurance, which may be deductible.

Leaders

Individuals who guide, influence, or command a group, organization, or country.

Managers

Individuals responsible for planning, organizing, leading, and controlling the work of a group of people to achieve specific goals efficiently and effectively.