Identifying the strategic issues a company faces and compiling a "worry list" of problems and roadblocks is an important component of company situation analysis because __________.
A) without a precise fix on what problems/issues a company confronts, managers cannot know what are the industry's key success factors.
B) the "worry list" sets the management agenda for taking actions to improve the company's performance and business outlook.
C) without a precise fix on what problems/roadblocks a company confronts, managers are less clear about what value chain activities to benchmark.
D) the "worry list" helps company managers clarify their thinking about how best to modify the company's value chain.
E) these issues and obstacles must be cleared before management can focus clearly on what is the best strategy for the company to pursue.
B) the "worry list" sets the management agenda for taking actions to improve the company's performance and business outlook.
Compiling a "worry list" of problems and issues creates an agenda for managerial strategy making.
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W. Bradley Consulting Service sold services for cash. This transaction would result in a(n)
a. increase to Income from Services with a debit. b. increase to cash with a credit. c. increase to Income from Services with a credit. d. decrease to cash with a credit.
A norm is a set of expected behaviors for a particular position.
Answer the following statement true (T) or false (F)
The cash account is significant to the auditor for which of the following reasons?
a. The cash account is the culmination of a large volume of transactions. b. The cash account is not as susceptible to fraud as most other accounts. c. Cash is the only account that provides opportunity for fraud. d. Automated systems do not possess the capability to maintain strong internal controls over cash.
The company is deciding whether to drop product line F because it has an operating loss. Assume that $22,000 of total fixed costs could be eliminated by dropping F. What effect would this decision have on operating income?
Momentum Rollerblades has three product lines—D, E, and F. The following information is available:
A) Operating income will increase by $23,000.
B) Operating income will increase by $3000.
C) Operating income will decrease by $23,000.
D) Operating income will decrease by $3000.