Any corporation not meeting the requirements for an S corporation is automatically a C corporation
a. True
b. False
Indicate whether the statement is true or false
True
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Which if the following is not true about the retail inventory method?
a. It is used to estimate ending inventory; b. A ratio of cost divided by retail price is used in the computation; c. Records of both the cost and the selling prices must be kept; d. Companies that use this method are also likely to use the specific identification method; e. It is a variation of the gross profit method.
Describe the fundamental ideas underlying the classical viewpoint to management, and give at least one example of a modern practice that has its roots in this view. Compare and contrast its two approaches.
What will be an ideal response?
The following are responsibilities of top managers, EXCEPT ______.
a. managing major parts of an organization b. developing an organization’s purpose c. executing organization’s strategies d. developing an organization’s objectives
A company that owns more than 50% of the common stock of another company is known as the
A) parent company. B) management company. C) subsidiary company. D) in-charge company.