To remain number one, leading firms can take any of three actions. First, they can find ways to expand total demand. Second, they can protect their current market share through good defensive and offensive actions. Third, they can ________
A) focus exclusively on divestment
B) evaluate current employees and reduce costs through downsizing
C) run smaller companies out of business, causing them to sell out to larger firms
D) try to expand their market share further, even if market size remains constant
E) shut down current company locations and reopen in highly populated areas
D
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In addition to the balance sheet, the income statement, and the statement of cash flows, a complete set of financial statements must include:
a. an auditor's opinion. b. a ten-year summary of operations. c. a note disclosure of such items as accounting policies. d. historical common-size (percentage) summaries. e. a list of corporate officers.
The current replacement cost of an asset is the amount a firm would have to pay to obtain another asset with identical service potential; it is an entry value that reflects economic conditions at the measurement date
Indicate whether the statement is true or false
The going concern assumption is concerned with:
A) the company's ability to continue operations long enough to carry out its existing obligations. B) any information that is capable of influencing the decisions of anyone using the financial statements. C) measuring ongoing business activities at their exchange price at the time of the initial external transaction. D) offsetting management's natural optimism by providing a prudent approach to uncertainty in financial statement items.
The United States is a culture that follows the monochronic time system
Indicate whether the statement is true or false.