Most established companies focus on incremental innovation rather than radical innovation
Indicate whether the statement is true or false
TRUE
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Compare innovation through development of new-to-the-world products with the use of incremental innovation
What will be an ideal response?
Which of the following represents a typical substantive audit procedure for cash balances?
a. Verify material deposits-in-transit to subsequent statements. b. Review cash confirms received by the client from the bank. c. Foot cutoff bank statements provided by the financial institutions. d. Perform kiting techniques to transfer cash between two client accounts.
Gorilla, Corp implemented a defined-benefit pension plan for its employees on January 2, 2012 . The following data are provided for year 2012, as of December 31 Accumulated benefit obligation $103,000 Plan assets at fair value 78,000 Net period pension expense 90,000 Employer's contribution 70,000 What amount should Gorilla record as additional minimum pension liability at December 31, 2012?
a. $0 b. $5,000 c. $20,000 d. $45,000
Items classified as operating expenses reflect management's judgment that the item is a cost of the core business
Indicate whether the statement is true or false