Which of the following statements is true?
a. All organizations have the same set of budgets.
b. All organizations are required to budget.
c. Budgets are a quantitative expression of an organization's goals and objectives.
d. Budgets should never be used to evaluate performance.
C
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Cash equivalents are securities that
A) management intends to convert into cash within one year. B) are denominated in a recognized national currency. C) management intends to convert into cash within the normal operating cycle. D) have maturity dates of three months or less.
Answer the following statements true (T) or false (F)
1) When preparing financial statements under the periodic inventory system, a calculation of cost of goods sold must be made. 2) The financial statements under the periodic inventory system and the perpetual inventory system are the same. 3) Cost of goods available for sale represents beginning merchandise inventory plus net purchases less freight in. 4) When using the periodic inventory system, there is no need to record an adjusting entry for inventory shrinkage. 5) When using the periodic inventory system, the process of recording the ending Merchandise Inventory is completed by making an adjusting entry.
A true statement about corporate culture is that ________.
A. it provides stability that can be a benefit at one time and can be a barrier to success at another B. it differs significantly across different countries in a global firm C. is generally easy to modify D. it is unlikely to play any role in determining or influencing the decision making within a firm
How can an IC benefit from leading and lagging?
What will be an ideal response?