________ attempts to provide management with accurate forecasts of trends that relate to external changes in geographic areas where the firm is currently doing business or considering setting up operations.
A. Environmental scanning
B. Functional scanning
C. Operational scanning
D. Tactical scanning
Answer: A
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If a company has only a few long-lived assets of relatively high value, the most efficient approach for an auditor would be to use tests of details for obtaining evidence
a. True b. False Indicate whether the statement is true or false
Office supplies become expenses
a. when they are consumed (used up). b. when they are paid for. c. at no time, since they are an asset. d. when they are purchased.
The Merchant Company issued 10-year bonds on January 1, 2009. The 15% bonds have a face value of $100,000 and pay interest every January 1 and July 1. The bonds were sold for $117,205 based on the market interest rate of 12%. Merchant uses the
effective-interest method to amortize bond discounts and premiums. On July 1, 2009, Merchant should record interest expense (round to the nearest dollar) of A) $7,032 B) $7,500 C) $8,790 D) $14,065
The result of an agent's functioning is exactly the same as if the principal had dealt directly with the third person
a. True b. False Indicate whether the statement is true or false