What general accounting methods may be used by a partnership, and how and by whom are they selected?
What will be an ideal response?
A partnership generally has the option of choosing either the accrual or the cash method. However, partnerships with C corporation partners must use the accrual method unless the partnership's average annual gross receipts for the last three years are less than $5 million. The partnership, rather than the individual partners, chooses an overall accounting method by using the desired method in calculating ordinary business income on its first return.
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Whatever strategic approach is adopted by a company to deliver value, it nearly always requires
A. matching corporate identity with the corporate culture in order to integrate effort and build sales momentum. B. performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match. C. constant efforts to thwart entry of new rivals and their attempts to create differentiated products with unit costs above price premium. D. the identification of strengths and weaknesses within the company. E. that management undertake formal planning sessions with functional departments to ensure productivity improvement.
Which of the following is NOTÂ an example of sexual harassment?
A. Paying a man more than a woman for doing the same job B. Promoting a female employee after she agrees to an after-work date C. Permitting the work environment to be hostile, intimidating, or offensive D. Allowing a customer to demand sexual favors from an employee
A systematic method to continuously augment how organizations conduct business and projects best defines
A) process improvement. B) product improvement. C) value chain improvement. D) business process reengineering.
Neman, a single parent, quit his job and started a small independent business because he was unable to give adequate attention to his child. Being an entrepreneur gives him the freedom to give undivided attention to his child without jeopardizing his work. Which of the following advantages of entrepreneurship is highlighted in the given scenario?
A. Greater financial success B. Flexibility C. Greater challenge D. Survival