In a ____, as one month expires, an additional month in the future is added to the budget so that the company always has a 12-month plan on hand
A) continuous budget
B) financial budget
C) operational budget
D) yearly budget
E) master budget
A
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Which of the following risk factors suggests a heightened level of risk of material misstatement?
a. Having a stable product. b. The departure of key personnel of a company. c. Few immaterial related-party transactions. d. Declining a merger with another company.
Which of the following statements is most likely true about the product life cycle?
A) Throughout the product introduction stage, sales are zero. B) The growth stage is the longest stage of the product life cycle. C) Profits are nonexistent in the growth stage. D) Growth is a period of rapid market acceptance and increasing profits. E) Maturity is the period when sales fall off but profits continue to rise.
All the following are traits of ethnicity, EXCEPT ______.
a. skin color b. customs c. allegiances d. cultural background