Knowledge Check 01 Hales Inc. ships goods on December 30 to Osher Inc., who receives the goods on January 2. Both companies have December 31 year-ends. If the goods are shipped f. o.b. shipping point, which of the following statements is (are) correct

Hales will include the goods in its December 31 inventory
Osher will include the goods in its December 31 inventory
Hales will record the sale on December 30, Holes wil record the sale on January 2.
Osher will record the purchase on December 30.
Osher will record the purchase on January 2.

Is not a primary concern when writing menu copy.

Which term refers to the cost that motivates an economic decision

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?