Which of the following external forces is a part of a firm's task environment?
A. the inflation level in the economy in which the firm operates
B. the interest rates prevalent in the economy in which the firm operates
C. the recent innovations in process technology, including lean manufacturing
D. the composition of the strategic group to which the firm belongs
Answer: D
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[The following information applies to the questions displayed below.]Madison Company issued an interest-bearing note payable with a face value of $24,000 and a stated interest rate of 8% to Metropolitan Bank on August 1, Year 1. The note carried a one-year term.Based on this information alone, what is the amount of total liabilities appearing on Madison's balance sheet as of December 31, Year 1?
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