A Texas oil company had struggled to meet profit targets due to declining production. Five years ago, its CEO testified before Congress against climate change regulation
Today, the company is ramping up production of lithium fuel cells. This reflects what business community shift regarding climate change?
A) demonstrating awareness of social responsibility
B) saving on labor expenses
C) gaining competitive advantage
D) finding new markets
E) wanting to influence regulation
Answer: D
Explanation: D) The company realizes that use of alternative energy sources such as fuel cells offers greater profitmaking potential than fossil-based fuels.
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According to professional audit standards, how might an understanding of the nature of fraud that may occur in the client organization be identified by an audit firm?
a. Fraud training courses from actual corporate fraud ex-criminals. b. Conducting a brainstorming session with the members of the audit team. c. Circulating a survey to the client company employees for completion. d. Discussions with other audit firms.
What is a bank cutoff statement and how is it used by an auditor?
What will be an ideal response?
Although some management accountants strive to update their knowledge and skills, such updating is not within the realm of management accountants' ethical standards
Indicate whether the statement is true or false
Discuss the contributions by Edward L. Bernays to making the practice of public relations more professional
What will be an ideal response?