Which of the following statements about planning is accurate?
A. Tactical plans may have a time horizon of a year or two, whereas operational plans may cover a period of months.
B. Tactical plans may have a time horizon of a year or two, whereas strategic plans may cover a period of months.
C. Strategic plans may have a time horizon of a year or two, whereas tactical plans may cover a period of months.
D. Strategic plans may have a time horizon of a year or two, whereas operational plans may cover a period of months.
E. Operational plans may have a time horizon of a year or two, whereas tactical plans may cover a period of months.
Answer: A
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Which of the following journal entries would probably be made if the modified cash basis of accounting for warranties is in use for a sale made in 2016?
A) ?2016Warranty Expense XXEstimated Liability under Warranties XX B) ?2017Estimated Liability under Warranties XXCash XX C) ?2016Cash XXSales XXUnearned Warranty Revenue XX D) ?2017Warranty Expense XXCash XX
All-American University, a U.S. university, provides tuition support for up to eight semesters of undergraduate education for up to two children of faculty and staff of the university. To qualify for this tuition benefit, the faculty or staff member
must have at least seven contiguous years of full-time service and be a full-time employee when the benefits are received. All-American estimates that this tuition benefit helps retain and attract employees. How should All-American treat its expenditures on these tuition benefits each year?
Lucy is applying for a job at a marketing firm. She has already presented her résumé. In order to get the employers to go through her application and get herself an interview, her application should include the line:?
A) ?''When a date and time can be arranged, I would like to talk with you.'' B) ?''You may call me at 555-6543.'' C) ?''I will call you next week to set an appointment time that works for both of us.'' D) ?''May I have an appointment with you on January 15?''
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information:Jan 1Beginning inventory400 units @ $2.50Jan 12Purchase500 units @ $2.30Jan 18Sales600 units @ $4.00Jan 21Purchase400 units @ $2.60Jan 25Purchase200 units @ $2.40Jan 31Sales550 units @ $4.00Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold for the sales transaction on January 18?
A. $1380 B. $1400 C. $1460 D. $1500