__________ companies place an emphasis on a worldwide perspective.
A. Polycentric
B. Geocentric
C. Ethnocentric
D. Regiocentric
E. Domestic
Answer: B
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When comparing the direct write-off method and the allowance method of accounting for uncollectible accounts, the entry to reinstate a previously written off accounts under the allowance method would include:
A) A credit to Bad Debt Expense B) A debit to Bad Debt Expense C) A debit to Allowance for Doubtful Accounts D) A credit to Allowance for Doubtful Accounts
A forecast is used to
A) help plan for the hiring of personnel. B) help plan for the purchase of equipment and machinery. C) determine future sales and revenue. D) determine the physical size of the plant. E) all of the above.
The difference between line authority and staff authority is that staff authority
A. is the right to advise or assist those with functional authority. B. gives one the right to fire employees with line authority. C. gives one the right to fire employees with functional authority. D. is the right to advise or assist those with line authority.
Boris, a single individual, has two sales of stock during the current year. The first sale produces a short-term loss of $27,000 and the second sale results in a long-term gain of $57,000 . Boris's taxable income without considering the gain is $125,000 . Boris's stock transactions will increase his taxable income by:
a. $-0- b. $30,000 c. $34,000 d. $54,000