The vision and mission statements of a company set the overall direction of the organization. Strategic objectives serve what role?
A. modify the mission statement
B. are a shorter version of the mission statement
C. are only clarified by the board of directors
D. operationalize the mission statement
Answer: D
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Which of the following is a measure for discouraging theft for a retail store that accepts cash receipts over the counter?
A) A receipt is issued for each transaction to ensure that each sale is recorded. B) At the end of the day, the sales clerk proves the cash by comparing the cash in the drawer against the machine's record of cash sales. C) The sales clerk uses the machine tape to record the journal entry for cash receipts and sales revenue. D) The store clerk deposits the cash in the bank.
________ involves using in-store promotions and advertising to extend brand equity to "the last mile" and encourage favorable point-of-purchase decisions
A) Differentiation B) Shopper marketing C) Social media marketing D) Retailer marketing E) Segmentation
The fixed overhead application rate is a function of a predetermined activity level. If standard hours allowed for good output equal the predetermined activity level for a given period, the volume variance will be
a. zero. b. favorable. c. unfavorable. d. either favorable or unfavorable, depending on the budgeted overhead.
Mitchell Company sells its product for $100 per unit. The company's accountant provided the following cost information: Manufacturing costs$25,000+45%of salesSelling costs$15,000+20%of salesAdministrative costs$25,000+10%of sales What is the company's break-even point in units?
A. 4,000 B. 1,000 C. 750 D. 2,600