A responsibility accounting/reporting system includes the following:
a. upward reporting of information
b. aggregation of data as it flows upward
c. appropriate information detail for each decision maker
d. All of the above
D
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The best definition of assets is the
A) cash owned by the company. B) resources belonging to a company having future benefit to the company. C) collection of resources belonging to the company and the claims on these resources. D) owner's investment in the business.
Quality control in foreign affiliates from the home office is less difficult when
A. the quality reports are sent to the home office at the same time. B. production equipment is similar. C. the quality inspectors are trained in the home office. D. separate standards are used in each plant.
Which of the following is FALSE about fixed-price contracts?
a. The contract subjects the supplier to a large degree of financial risk in the event of cost escalations. b. The contract includes a fair and reasonable incentive that requires the contractor to assume an appropriate share of the risk. c. The administrative burden of signing the contract is very high. d. The contract subjects the buyer to financial loss if the market price drops.
Economic espionage is:
a. the theft of valuable business information b. the theft of personal information c. unauthorized use of company computers d. insider trading e. giving false information to clients