Scenario: hart nance and jason symington operate gift boutiques in shopping malls. the partners split profits and losses equally, and each takes an annual drawing of $80,000. to even out the workload, nance travels around the country inspecting their properties. symington manages the business and serves as an accountant. from time to time, they use small amounts of store merchandise for personal use. in preparing for his daughter's wedding, symington took inventory that cost $10,000. he recorded the transactions as follows:

debit credit
cost of goods sold $10,000: debit
inventory $10,000: credit

respond to the following questions

how do you feel symington should have recorded these transactions? why?

what are the ethical implications of symington's actions?

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

Sanibel autos inc. merged with its competitor vroom autos inc. this allowed sanibel autos to use its technological competencies along with vroom autos' marketing capabilities to capture a larger market share than what the two entities individually held. what type of integration does this scenario best illustrate? a. vertical b. technological c. horizontal d. perfect