Which of the following is the first step in the negotiation process?
A) definition of ground rules
B) clarification and justification
C) preparation and planning
D) bargaining and problem solving
E) closure and implementation
C
Explanation: C) The negotiation process is made up of five steps: (1 ) preparation and planning, (2 ) definition of ground rules, (3 ) clarification and justification, (4 ) bargaining and problem solving, and (5 ) closure and implementation.
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Interperiod income tax allocation procedures are appropriate when
a. an extraordinary loss will cause the amount of income tax expense to be less than the tax on ordinary net income b. an extraordinary gain will cause the amount of income tax expense to be greater than the tax on ordinary net income c. differences between net income for tax purposes and financial reporting occur because tax laws and financial accounting principles do not concur on the items to be recognized as revenue and expense d. differences between net income for tax purposes and financial reporting occur because even though financial accounting principles and tax laws concur on the item to be recognized as revenues and expenses, they don't concur on the timing of the recognition
The weighted average cost is calculated by adding up the units' costs from each purchase and then dividing by the number of purchases
a. True b. False Indicate whether the statement is true or false