When the management of a large grocery store heard that Target might be coming to town, they developed alternative courses of action they could take if their competitive landscape changed. What type of plan did they develop?
A. Strategic
B. Objective
C. Contingency
D. Tactical
E. Operational
Answer: C
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Which of the following situations represents a risk factor that relates to misstatements arising from misappropriation of assets?
a. A high turnover of senior management. b. A lack of independent checks. c. A strained relationship between management and the predecessor auditor. d. An inability to generate cash flow from operations.
Depreciation
a. is calculated by the department that uses the fixed asset b. allocates the cost of the asset over its useful life c. is recorded weekly d. results in book value approximating fair market value
Josh and Arielle, along with other members of their group, feel like outsiders to the dominant culture. They are likely part of
a. a sub-group. b. a marginalized group. c. a marginalized culture. d. a sub-culture.
Loans from commercial banks and other financial institutions often require firms to pledge assets as _____
a. "senior" tranches b. derivatives c. collateral d. "junior" tranches e. principal payments