In an effort to improve the conceptual framework, the FASB, in conjunction with the IASB has been moving towards more __________ standards
a. rules approach
b. principles approach
c. broad approach
d. international approach
B
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According to a major study of more than 1,000 commercials, the single most important factor in whether a commercial will be persuasive is whether the communication ________
A) stresses a unique attribute of benefit of the product B) employs a sexual symbol or suggestion C) provides specific price information D) features a credible spokesperson
The purpose of an FAQ section in a press kit is to ________
A) list information in a bulleted format for easy access by reporters B) provide a narrative account of the firm for accurate media coverage C) answer questions frequently raised during the firm's board meetings D) address questions that are commonly asked about a firm and its products E) explain the specific details of advertising, marketing, and public relations campaigns
In its initial year of operation, Montoya Manufacturing started and completed 4,000 identical widgets and had 1,000 widgets that were 40% complete in work-in-process at the end of the year. Total production costs for the year were $55,000. What was the equivalent units of production during the year?
A) 4,600 equivalent units B) 5,000 equivalent units C) 4,000 equivalent units D) 4,400 equivalent units
Which of the following represents the correct pairing of one of the three general types of decisions with regard to the operations and supply chain function with its description?
a. strategic: medium-term decisions b. tactical: long-term decisions c. operational: decisions with respect to day-to-day operations d. functional: decisions with regard to diversification of the firm