The board of directors is typically responsible for ________
A) approving strategic goals and plans
B) managing day-to-day operations
C) arranging finance for approved long-term investments
D) maintaining and controlling the firm's daily cash balances
A
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Costs for which of the following activities would not be included as part of research and development (R&D) costs?
A) ?testing in search for or evaluation of product or process alternatives. B) ?adaptation of an existing capability to a particular requirement or customer's need as part of a continuing commercial activity. C) searching for applications of new research findings or of other knowledge?. D) ?design, construction, and testing or preproduction prototypes and models.
The direct write-off method does a better job of matching revenues and expenses than does the allowance method.
Answer the following statement true (T) or false (F)
Which one of the following statements represents an advantage of the P system over the Q system?
A) Less safety stock is carried to achieve the same service level. B) The replenishment intervals can be more easily individualized for items. C) Orders can be more easily combined to the same supplier. D) A P system is more suitable for quantity discounts and capacity limitations.
Which of the following is a reason or reasons for the IRS to audit your tax return?
A) You were randomly selected as a matter of routine audits. B) You were audited in the past. C) There is something suspicious on your return. D) You earn a lot of money. E) any or all of the above