MCRS Toys manufactures learning toys and games exclusively for children in the age group of one to six years. The company is using a(n) _____ strategy
Answer: focus
Rationale: With a focus strategy, a company uses either cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment.
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Which financial statement would you analyze to determine if a company distributed any of its profits to its shareholders?
a. Balance Sheet b. Statement of Retained Earnings c. Income Statement d. Statement of Public Accounting
If the international terms of trade settles at a level that is between each country's opportunity cost,
a. there is no basis for gainful trade for either country. b. both countries gain from trade. c. only one country gains from trade. d. one country gains and the other country loses from trade.
Which of the following is not an internal control activity for cash?
A) Unannounced audits of cash on hand should be made occasionally. B) The number of persons who have access to cash should be limited. C) The functions of recordkeeping and keeping custody of cash should be combined. D) All cash receipts should be recorded promptly.
Permanent accounts are:
a. Assets, Liabilities and Stockholders' Equity. b. Revenues, Gains, Expenses, Losses and Dividends. c. closed to retained earnings at the year-end. d. not represented by the accounting equation.