The text offers six ways of dealing with the other party's use of deception. Asking probing questions is one approach. Name three of the remaining five approaches.
What will be an ideal response?
The remaining five approaches are forcing the other party to lie or back off; "call" the tactic; discuss what you see and offer to help them change to more honest behaviors; respond in kind; and ignore the tactic.
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Which internal control procedure is followed when a physical count of inventory is performed in a perpetual inventory system?
a. Segregation of duties b. Safeguarding assets and records c. Independent verifications d. Proper authorizations
The undifferentiated selling approach is used by the salesperson when:
A. accounts have different needs and characteristics. B. accounts in a market are similar. C. the product line is varied with unique uses. D. customers are primarily heterogeneous. E. major distinctions exist in a geographic region.
In contrast to the total product and variable cost concepts used in setting seller's prices, the target cost approach assumes that:
A) a markup is added to total cost B) selling price is set by the marketplace C) a markup is added to variable cost D) a markup is added to product cost
Quick assets (cash, short-term investments, and current receivables) divided by current liabilities is the:
A. Working capital ratio. B. Current ratio. C. Current liability turnover ratio. D. Quick asset turnover ratio. E. Acid-test ratio.