Answer the following statement(s) true (T) or false (F)
The firm’s most appropriate structure (organizational design) is the one that best supports the firm’s strategy.
Ans: True
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When there is a difference in the timing of revenues and expenses for accounting versus income tax purposes, it usually is necessary to
a. adjust accounting income. b. perform income tax allocation procedures. c. adjust taxable income. d. do nothing because such differences are a result of two different sets of rules.
Private Not-for-Profit (NFP) Entities.Select from this list of terms to answer the following questions. A. Fair value B. Net assets without donor restrictions C. GASB D. FASB E. Statement of Revenues, Expenditures, and Changes in Fund Balance F. Lower of cost or market G. Accrual method H. Statement of Activities I. General fund, restricted fund, endowment fund J. Modified accrual method K. Net assets with donor restrictions L. Endowment fund M. Unrestricted, temporarily restricted, permanently restricted N. Depreciation O. Works of art and other historical treasures P. General fund Q. Cost Indicate your choice by entering the letter corresponding to the correct term. A term may be used more than once or not at all."Net asset classifications per ASC 958-205" describes
which term listed above? What will be an ideal response?
A cost accountant wishes to establish the average amount, ?, spent by executives per day on travel and lodging. The population standard deviation ? = $29 . The accountant wants to be 90-percent confident that the estimate, x, obtained is within $7 of the true mean. How large a sample is needed if the company employs 263 executives?
An individual who establishes a new organization without the benefit of corporate support is called a(n)
A. intrapreneur. B. entrepreneur. C. sole proprietor. D. licensee. E. franchisee.