Analysis of the external environment of an organization identifies the organization's ________
A) strengths and weaknesses
B) strengths and opportunities
C) opportunities and threats
D) weaknesses and threats
E) strengths and threats
C
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Match the following terms with the appropriate definition.A. Accrual basis accountingB. Cash basis accountingC. Fiscal yearD. Interim financial statementsE. Depreciation F. Straight-line depreciationG. Time period assumptionH. Expense recognition (matching) principleI. Accrued revenues____ 1. Any 12 consecutive months or 52-week period that a company adopts for its annual reporting period.____ 2. A method that allocates equal amounts of an asset's cost (less any salvage value) to depreciation expense during its useful life.____ 3. Assumes that an organization's activities can be divided into specific time periods such as months, quarters, or years.____ 4. Aims to record expenses in the same accounting period as the revenues that are earned as a result of those expenses.____ 5. The
accounting system that uses the adjusting process to recognize revenues when earned and expenses when incurred.____ 6. The process of allocating the costs of long-term assets to the income statement over their expected useful lives.____ 7. Revenues earned in a period that are both unrecorded and not yet received in cash or other assets.____ 8. The accounting system that recognizes revenue when cash is received and records expenses when cash is paid.____ 9. A set of financial statements that covers less than one year, typically one, three, or six months of activity. What will be an ideal response?
A markup and a margin both refer to the difference between a final price and unit cost
Indicate whether the statement is true or false
Buster conveys one square block in Center City "to Diana for life, then to Center City." For Diana, this creates
A. a fee simple absolute. B. a leasehold estate. C. a life estate. D. an easement.
Liberty Services is now at the end of the final year of a project. The equipment originally cost $26,500, of which 75% has been depreciated. The firm can sell the used equipment today for $6,000, and its tax rate is 40%. What is the equipment's after-tax salvage value for use in a capital budgeting analysis? Note that if the equipment's final market value is less than its book value, the firm will receive a tax credit as a result of the sale.
A. $6,250 B. $6,125 C. $6,625 D. $5,563 E. $7,750