What does the standard organizational chart show? In your answer, point out the functions needed for a successful business
What will be an ideal response?
Answer: The standard organizational chart shows a bottom-up reporting relationship, but the reality is that the functions of marketing, finance, manufacturing, information systems, and human resources are all interconnected in a successful business.
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Captive customers are a drain on a business's profits because the cost of acquiring them can never be recovered
Indicate whether the statement is true or false
Which of the following statements is correct?
A) A partnership may make an annual election to adjust the basis of its assets upon the sale of a partnership interest. B) The Sec. 754 election applies to both sales and distributions. C) The Sec. 754 election applies to only current and nonliquidating distributions. D) A partnership can revoke a Sec. 754 election every 5 years.
Editorial analyses that provide in-depth coverage of a particular tax area are called:
a. tax periodicals b. tax treatises c. citators d. tax research
Which of the following is a support activity in the operations of a firm?
A. Research and development B. Customer service C. Marketing and sales D. Creation and maintenance of information systems E. Production