What is the basis of accounting used in reporting the Statement of Activities?
A. Either modified accrual basis or accrual basis, depending on the type of revenue.
B. Modified accrual basis.
C. Either cash basis or accrual basis, depending on the type of revenue.
D. Cash basis.
E. Accrual basis.
Answer: E
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This question contains two parts; be sure to answer each. First, summarize Porter's four competitive strategies, giving examples of companies that use each of the strategies. Next, suppose you are CEO of PaperWhite, a company that produces reams of copy paper. Which strategy would you use, and why?
What will be an ideal response?
Careful business plans include a/an ______ analysis projecting if assumptions will be wrong by some percentage.
A. market B. earnings C. sensitivity D. feasibility
In a family business, the interests of the family and the interests of the business are best described as:
A. overlapping. B. conflicting. C. coinciding. D. having no relationship with each other.
Wondercamp is planning a new resort for the urban professional who wishes to "get back to nature." For a hefty fee, it plans to transport clients up the Crocodile River by canoe and then have the clients camp at one of eight designated campsites. It must build a 1000-yard trail from the river to the first campsite as there are no feasible alternatives. It then wishes to build a sequence of trails (of minimum total length) so that every campsite can be reached from any other campsite. A study of the area's terrain has yielded the following possibilities for trails between campsites. Which trails should be built?
What will be an ideal response?