Explain how a business plan is like a road map
What will be an ideal response?
A business plan is the plan, or map, for how a company will navigate the near future; a business plan should guide company decisions in the near future.
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Which of the following is the usual final step in the accounting cycle?
A. Preparing a post-closing trial balance. B. Preparing the financial statements. C. Preparing a work sheet. D. Preparing an adjusted trial balance. E. Journalizing transactions.
A lease would be considered unenforceable if it did not contain
a. the names of the landlord and tenant. b. a description of the leased premises. c. the amount of rent payable. d. all of these.
The former CEO of Countrywide Mortgage (now a part of Bank of America), offered favorable loans to members of Congress, Countrywide government regulators, and members of the board and officers of Fannie Mae, the quasi-government agency that bought Countrywide's mortgages in the secondary market. The loans were jumbo loans at below-market rates. Countrywide sold 90% of its mortgages to Fannie Mae
Congress was responsible for the creation, funding, and policies of Fannie Mae. The members of Congress who received the Fannie Mae favorable loans sat on House and Senate Banking Committees. Which of the following categories of ethical breaches, if any, applies to this practice? a. Taking things that don't belong to you b. Taking unfair advantage c. Conflict of interest d. All of the above apply
In the short term, stock prices tend to rise as inflation rises
Indicate whether the statement is true or false.