The master budget process usually begins with the preparation of the ________ and usually finishes with the preparation of the ________, the ________, and the ________.
What will be an ideal response?
sales budget; cash budget; budgeted income statement; budgeted balance sheet
The first answer (sales budget) must appear in the first blank; the last three solutions can appear in any order
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Which of the following is a NYSE mandated guideline for corporate governance?
a. Boards need to consist entirely of independent directors. b. Boards must have an audit committee with a minimum of three independent directors. c. Boards must have a compensation committee with a minimum of three independent directors. d. CFOs must provide an annual certification of compliance with corporate governance standards.
New Ideas (Scenario)Although New Ideas, Inc., has been in business for 30 years, the company and its employees seemingly have been in a constant state of change. Louis Snyder has been President of New Ideas, Inc. for the last 15 years. During these 15 years, he has had to change the strategic focus of the company three times. The employees have started becoming vocal about the decrease in their bonus checks and their desire for increased profits. It seems as though his competition is always introducing new products into the market and his company's niche products have to be constantly changed in order to keep up with the competition. Moreover, the government has been active in passing new legislation to increase the control of the product packaging and product contents. The technology
used to manufacture the products has also been continually changed to make the process more efficient.The technology change in the manufacturing process of New Ideas, Inc.'s products to make the process more efficient is the result of a competitor lowering its price. Therefore, it was a(n) ________. A. external force of change B. internal force of change C. marketplace force of change D. economic force of change
The ____ factor affecting ethical behavior includes one's moral values and central attitudes.
A. individual B. social C. opportunity D. moral E. ethical
Which of the following is true of a stock dividend?
A) It is a liability on the balance sheet. B) The decision to declare a stock dividend resides with the shareholders. C) Transfers a portion of equity from retained earnings to a cash reserve account. D) Does not affect total equity, but transfer amounts between the components of equity. E) Reduces a corporation's assets and stockholders equity.