The Daily Recorder is considering raising its price from 60 cents to 75 cents. Which stakeholders should it consider most in making this decision?
A) All stakeholders should be considered equally.
B) all internal stakeholders
C) all external stakeholders
D) its customers
Answer: D
Explanation: Though all stakeholders should be considered in an important decision, in most cases some stakeholders should be regarded as more critical than others. In this case, the customers who will be expected to pay the extra cost should be considered first and foremost.
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Which of the following activities are business characteristics?
a. Raises money in the capital markets. b. Uses money raised to purchase assets such as land, buildings, and equipment. c. Uses the purchased assets to create goods and/or services. d. Sustains itself financially by selling the goods and/or services produced. e. All of the above are business characteristics.
A reversing entry is ________
A) a journal entry used to close the temporary accounts after preparation of financial statements B) a special journal entry used to make the adjustments that took place after preparing the trial balance C) a special journal entry that eases the burden of accounting for transactions in the next period D) a journal entry prepared at the end of an accounting period to match assets with liabilities