True or false. The first word of your answer has to be either true or false. If the first word of your answer is not true or false, you receive 0 points. If the statement is
true you are finished answering. If your answer is false, briefly explain why it is false.
a. "The income effect always operates in the opposite direction as the substitution effect."
For b, c and d, assume the consumption bundle consists of 2 goods; X and Y.
b. "It is possible for X and Y to both be inferior goods."
c. "It is possible for both X and Y to both be normal goods."
d. "It is possible for X and Y to both be Giffen goods."
For parts e, f and g use the following information
Food Clothing
A 15 18
B 13 19
C 14 17
Baskets B and C are on the same indifference curve.
e. A is preferred to B
f. A is preferred to C
g. A is on the same indifference curve as C

At april 1, 2019, the food and drug administration is in the process of investigating allegations of false marketing claims by hulkly muscle supplements. the fda has not yet proposed a penalty assessment. hulkly’s fiscal year ends on december 31, 2018. the company’s financial statements are issued in april 2019. required: for each of the following scenarios, determine the appropriate way to report the situation. 1. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 2. management feels an assessment is reasonably possible, and if an assessment is made an unfavorable settlement of $13 million is probable. 3. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is reasonably possible. 4. management feels an assessment is probable, and if an assessment is made an unfavorable settlement of $13 million is probable.

Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.