The two types of research are:
A. basic and applied
B. primary and secondary
C. profit and not-for-profit
D. domestic and global
E. basic and advanced
Answer: A
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An auditor discovers a likely fraud during an audit but concludes that the overall effect of the fraud is not sufficiently material to affect the audit opinion. The auditor should probably:
A. discuss with the client the additional audit procedures that will be needed to identify the exact amount of the fraud. B. modify the audit program to include tests specifically designed to identify the fraud and its impact on the financial statements. C. disclose the fraud to the appropriate level of the client's management. D. disclose the fraud to appropriate authorities external to the client.
Alex sells veterinarian supplies. He has developed a close relationship with his customers. Which type of objection is Alex LEAST likely to hear when he tries to get one of his veterinarian customers to try a new type of shampoo that eliminates problems with ticks and fleas?
A. Product B. Stalling C. Source D. Money E. No-need
Which of the following statements about teams is true?
A. Teams can be powerful forces for quality, but they are expensive. B. Working in teams tends to be slower than working independently. C. Working in teams tends to lower employees' esteem. D. Teams are good for innovation, but they reduce productivity. E. Teams can be powerful forces for creativity and change.
Compared to corporations, what is the primary disadvantage of partnerships as a form of business organization?
A. The tax rates applied to partnerships are higher than the tax rates applied to corporations. B. Any dividends paid to the owners of a partnership business are taxed twice, once at the partnership level and once at the personal, or individual level. C. Partnerships generally are more complex to form (start up) than corporations. D. Partnerships have unlimited lives whereas corporations do not. E. The owners of a partnership, that is, the partners, have unlimited liability when it comes to business obligations whereas the owners of a corporation have limited liability.