Limited liability means the stockholders are not held personally responsible for the financial obligations of the corporation.
Answer the following statement true (T) or false (F)
True
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Which of the following controls is not a typical internal control over fixed assets?
a. Reconcile physical inventory with the property ledger. b. Periodically reassess the appropriateness of depletion categories. c. Identify obsolete or scrapped equipment and write it down to scrap value. d. Periodically review management strategy and systematically assess the impairment of assets.
A manufacturer of a product in the decline stage of its product life cycle would be LEAST likely to do which of the following?
A) continue producing the product for loyal users B) reduce the advertising budget for the product C) phase out production of the product D) advertise heavily without changing the product or its target market E) withdraw most marketing support for the product and rely on e-commerce
Which of the following is the third step of the performance success cycle?
a. assess b. talk c. think d. coach
Firms that are always reacting to competitors' price changes run the risk of pricing higher than might really be necessary
Indicate whether the statement is true or false