The area of accounting aimed at serving the decision making needs of internal users is:
A. External auditing.
B. Managerial accounting.
C. SEC reporting.
D. Financial accounting.
E. Bookkeeping.
Answer: B
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The practice of preventive law requires a knowledgeable client as well as a knowledgeable lawyer.
Answer the following statement true (T) or false (F)
According to the Sarbanes-Oxley Act, members of the audit committee must be members of the board of directors
Indicate whether the statement is true or false
Scenario 12.2 Use the following to answer the questions. Suppose that Ray-Ban is considering a new line of sunglasses that would be sold in major department stores. The new line would be positioned as a more distinctive brand than the typical glasses sold through department stores, and would be priced higher than other brands in the store, but a lower price line than the current Ray-Ban lines that are sold through more selective stores. In determining the price for this sunglass line, Ray-Ban wants to gather information about all brands sold in department stores and about customers' perceptions of those brands. Refer to Scenario 12.2. Given Ray-Ban's plan for positioning the new sunglass line, they should use a ____ strategy when introducing their new product.
A. promotional B. penetration C. price-skimming D. reference E. secondary-market
Which of the following is a defense that a defendant could raise in an action based on strict liability?
A) The plaintiff negligently failed to observe a sign on a highway warning of blasting operations and was injured from the operations. B) The owner of a car signed a waiver of potential damages if he parked his vehicle in a blasting zone as a result of which the car was damaged. C) A child played with a neighbor's pet raccoon which had escaped from its cage. The child teased the pet and was bitten. D) All of these are valid defenses which would be successful if raised by the defendant.