A wholly owned subsidiary sold land to its parent during the year at a gain. The parent continues to hold the land at the end of the year. The amount to be reported as consolidated net income for the year should equal:
A. the parent's separate operating income, plus the subsidiary's net income, plus the intercompany gain.
B. the parent's net income, plus the subsidiary's net income, minus the intercompany gain.
C. the parent's separate operating income, plus the subsidiary's net income.
D. the parent's separate operating income, plus the subsidiary's net income, minus the intercompany gain.
Answer: D
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S&H Associates has just performed an audit of Bob's Bikes. S&H was unable to obtain a written representation from management about internal control. Which of the following is true?
A. S&H must still assume that management has assessed the effectiveness of internal control. B. Management does not need to give S&H a letter if it has disclosed all known internal control deficiencies. C. S&H should consider this situation a limitation on the scope of the audit. D. Depending on other factors in the audit, S&H can still issue an unqualified opinion.
________ include a set of methods facilitated by technology that utilize individual-level and market-level data to identify and communicate meaningful patterns within the data for the purpose of improving marketing-related decisions.
A. Marketing databases B. Structured surveys C. Marketing analytics D. Computer management systems E. Customer decision systems
As a sales promotion tactic, why do marketers prefer using rebates?
A. because they offer incentives that encourage satisfied customers to become repeat customers B. because they are easy for the customer to use C. because they offer the customer a chance to actually try the product D. because they are most effective on everyday purchases E. because customers often fail to redeem them
Communication technology has made person-to-person communication almost irrelevant in today's business world
Indicate whether the statement is true or false.