The foreign tax credit applies to U.S. taxpayers who earned income from a foreign country and who were subject to income taxes in that foreign country

Asset turnover is computed as:

Select one: A. Net income / Year-end total assets B. Net sales / Average total assets C. Average total assets / Net sales D. Average total assets x Net sales

During the planning process, if there is a gap between future desired sales and projected sales, corporate management will need to develop or acquire new businesses to fill it

Identify and describe the three strategies that can be used to fill the strategic gap.