Managers at Cimarron Saddlery expect to meet profitability goals for the company by cutting costs through a 70% increase in global sourcing of leather and other materials over the next two years. This is an example of a(n)
A. supervision objective.
B. operational goal.
C. tactical goal.
D. maintenance objective.
E. strategic goal.
C. tactical goal.
Tactical goals are set by and for middle managers and focus on the actions needed to achieve strategic goals.
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When Gary was a high school student, he enjoyed rock music and regularly purchased hip clothing sported by his favorite rock band. However, five years later, when Gary became an accountant, his preference shifted toward formal clothing
Which of the following personal characteristics is likely to have had the most influence on Gary's preferences during his high school days? A) education B) age C) income D) gender E) physiological needs
High Step Shoes had annual revenues of $187,000, expenses of $104,700, and dividends of $18,800 during the current year. The retained earnings account before closing had a balance of $299,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
A. Debit Income Summary $82,300; credit Retained earnings $82,300 B. Debit Retained earnings $63,500; credit Income Summary $63,500 C. Debit Retained earnings $82,300; credit Income Summary $82,300 D. Debit Income Summary $63,500; credit Retained earnings $63,500 E. Debit Retained earnings $299,000; credit Income Summary $299,000
A major reason rules or laws were first established was to
a. provide jobs for people. b. restrict people's movement in society. c. make it possible for the majority to rule the rest. d. protect the rights of individuals against acts by others.
Verna files a petition in bankruptcy in a liquidation proceeding. If the court administers the means test and concludes that Verna is abusing the bankruptcy process by filing for a liquidation, the court will most likely
A. force Verna to file for relief through an individual repayment plan. B. discharge Verna's debts. C. distribute Verna's property to Verna's creditors. D. issue an automatic stay against any actions by Verna's creditors.