Employee training is an example of a key competitive priority
Indicate whether the statement is true or false
F
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Tavella Company applies the consistency convention. What does this mean?
a. Tavella Co. uses the same names for all its expenses as its competitors. b. Tavella Co. has selected certain accounting principles that can never be changed. c. Tavella Co. applies the same accounting principles each accounting period. d. Tavella Co. applies the same accounting principles as it competitors.
A restaurant is being sued because a customer claims to have found a bug in her chili. The company's lawyers believe there is only a remote possibility that the lawsuit will result in an actual liability. Which of the following actions should be taken by the company's management?
A) The situation should be described in a note to the financial statements. B) The possible liability should not be shown in the financial statements. C) The liability should be estimated and accrued as an expense. D) An expense must be matched to the period in which the incident occurred.
Which of the following statements is true of direct marketing?
A) Direct marketing is also referred to as referral marketing. B) Salespersons are compensated for other salespeople they recruit. C) Direct marketing offers sellers a low-cost alternative for reaching their markets. D) Direct marketing involves two or more intermediaries. E) In direct marketing, consumers earn a commission every time they buy a product.
The budgeting process is used to effectively communicate planned expectations regarding profits and expenses to the entire organization
Indicate whether the statement is true or false