Strategic planning in a multidivisional corporation
A) should be informal to allow complete understanding by the many participants.
B) should be instigated only from the main corporate office.
C) should be accomplished quickly to decrease the likelihood of it becoming outdated.
D) should encourage a clear delineation between top management and lower-level managers.
E) should be a formalized and sophisticated system.
E
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Which entity has the authority to prohibit an individual from practicing public accounting?
A. The Private Companies Practice Section. B. A state board of accountancy. C. A state CPA society. D. A joint trial board of the AICPA.
Which of the following statements is FALSE?
A) Similar to the situation with its accounts receivable, a firm should monitor its accounts payable to ensure that it is making its payments at an optimal time. B) Some firms ignore the payment due period and pay later, in a practice referred to as pushing the accounts payable. C) Suppliers may react to a firm whose payments are always late by imposing terms of cash on delivery (COD) or cash before delivery (CBD). D) If the accounts payable outstanding is 40 days and the terms are 2/10, net 30, the firm can conclude that it generally pays late and may be risking supplier difficulties.