A low consequence work-oriented decision is one involving problems that challenge existing poli-cies or procedures or involve changes in technology, layout, design, reporting methods, procedural patterns, control systems, safety rules, or basic

When an item of expense is paid and recorded in advance, it is normally called a(n)

a. prepaid expense. b. accrued expense. c. estimated expense. d. cash expense

GTB Electronics enters a new market and needs to set its pricing strategy for the market. Which of the following is a favorable condition for implementing skim pricing?

A) There is little differentiation between competing products in the market. B) The market has many well-established competitors. C) Entry into that particular market is difficult. D) There are many substitute products available, with a wide range of prices and features. E) GTB's product position is about the same as competitors' positions in every area of product and service quality.