All of the following are areas of focus for managers to develop a good understanding of an organization's cost base, EXCEPT:
A. The make-up of their cost base
B. The percentage of the cost base which lies within their control in the near term
C. The sell pressures which will impact the cost base
D. The market pressures which will impact the cost base going forward
E. Understanding the volume and dollar requirements necessary to achieve breakeven
Ans: C. The sell pressures which will impact the cost base
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The audit committee is responsible for
A) overseeing the internal control structure. B) overseeing the financial reporting process. C) working with the internal and external auditors. D) All of the above are responsibilities.
When it comes to managers dealing with ethical issues, it is most safe to say that:
A) what is ethical or unethical is seldom clear cut. B) issues clearly resolve themselves into right and wrong choices. C) ethical codes have significantly helped managers with ethical issues. D) employee expectations of ethical managerial behavior are rapidly declining.