____ plans focus on the broad, enduring issues for ensuring a firm’s effectiveness over a long period of time while ____ plans are more focused, short term, and specific.
a. Operational, tactical
b. Strategic, operational
c. Operational, strategic
d. Strategic, tactical
b. Strategic, operational
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Cash-basis accounting as a basis for preparing financial statements is
A) allowed under GAAP. B) not allowed under GAAP. C) preferred under GAAP. D) used by most companies.
During 2016, Penny Co had net income of $200,000 including after-tax interest expense of $30,000 on convertible bonds. The $300,000 face value of convertible bonds can be converted into common stock at the rate of 300 shares per $1,000 bond. Prior to the conversion, there were 400,000 shares of common stock outstanding. What is the amount of fully diluted earnings per share?
A) $0.500 B) $0.469 C) $0.408 D) not determinable because the bonds are not dilutive
How could the Internet of Things benefit marketers?
What will be an ideal response?
Income tax expense affects assessments of profitability as much as any other expense. A common ratio for analyzing the effect of income taxes on profitability is the _____ rate, equal to income tax expense divided by financial reporting income before income taxes:
a. marginal tax b. effective tax c. tax burden d. statutory e. average