Local suppliers have ______ lead times while global suppliers in a multitiered supply chain have ______ lead times.
a. longer, longer
b. longer, shorter
c. shorter, longer
d. shorter, shorter
c. shorter, longer
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A high detection risk strategy includes all of the following except:
A. heavy reliance on analytical procedures as substantive procedures. B. audit work only completed at year-end. C. interim testing. D. reduced testing of transactions.
Under new accounting standards passed in 2006 firms must report changes in accounting principle in the current and prior years as if the new accounting principle had been applied all along. The rationale for this change was
a. using the same accounting principle in current and prior periods enhances the information content of reported earnings in forecasting future earnings. b. conservatism. c. comparability. d. materiality.
Pierre, an assistant hotel manager at an upscale hotel, decides to provide a "wow" experience to a newlywed couple staying at the hotel. Which one of the following actions by Pierre would most likely deliver the "wow" experience to the
A) Place a surcharge of $150 for having stayed in the honeymoon suite. B) Send the couple a tweet, asking them how they have enjoyed married life so far. C) Off the couple a five percent discount providing this is the first marriage for each of them. D) Deliver the couple a framed photo of the two of them kissing while checking into the hotel.
Which of the following statements concerning a firm's degree of financial leverage (DFL) is correct?
A. The DFL affects the earnings before interest and taxes of the firm. B. The DFL is defined as the percentage change in net operating income that results from a given percentage change in sales. C. A lower DFL suggests that higher risk is associated with the firm's normal operating activities. D. The DFL directly affects the operating section of the income statement. E. A higher DFL suggests that higher risk is associated with the firm's mix of debt and equity financing.