Custom cabinet makingComputer assemblyTechnical support by phoneCell phone manufacturingneeded to ensure that the expense recognition principle is followed.straightforward because the accounts that need adjustment will be out of balanceoptional when financial statements are prepared.only required for accounts that do not have a normal balance.It falls between -1 and 1.It is a unit-free measure, therefore making it easier to interpret.It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret.It falls between 0 and 1.during the construction period of a self-constructed asset.if the asset acquisition is financed by a long-term note payable.if the asset is purchased on credit.if it is a part of a lump-sum purchase.BalanceAdjusted trial balanceTrial balancePost-closing trial balancecapitalized as a part of the cost of the asset.not recorded until they become material in amount.expensed when incurred.debited to the Accumulated Depreciation account.Internal environmental analysis of threats and weaknesses.External analysis of strengths and opportunities.Internal threats and weakness and external strengths and opportunities.Internal strengths and weaknesses; external threats and opportunities.simple in disclosure requirementssimple in accounting requirementsprinciples-basedrules-basedthe idea that organizations are solely responsible to local citizensthe idea that businesses are responsible to maintain a healthy social climate for their employeesthe expectation that business will strive to improve the overall welfare of societythe fact that court costs could impact the financial bottom lineThe number of typos found on a randomly selected page of this test bankThe number of students who will get financial assistance in a group of 50 randomly selected studentsThe number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on MondaysThe average temperature in Tampa, Florida, during the month of Julyprocurementtechnology developmentinformation systemshuman resource managementThe number of defective light bulbs in a sample of fiveThe average distance achieved in a series of long jumpsThe circumference of a randomly generated circleThe time of a flight between Chicago and New YorkU.S and international companies.international companies but not U.S. companies.U.S. and Canadian companies but not other international companies.U.S companies but not international companies.as a percent of the item in the previous year.starting with the highest value down to the lowest value.in dollars and cents.as a percent of a base amount.Mean, median, and modeMedian onlyMean and median onlyMean onlyA population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age.A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people chosen at random under the age of 25 and four people chosen at random over 25.A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample.A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age.decreases its total assets and total stockholders equity.requires that a gain or loss be recognized on the income statement.increases its total assets and total stockholders equity.has no effect on total assets and total stockholders equity.the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.cash must be received before revenue is recognized.events that change a companys financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.net income is calculated by matching cash outflows against cash inflows.has no effect on total assets and total stockholders equity.decreases its total assets and total stockholders equity.increases its total assets and total stockholders equity.requires that a gain or loss be recognized on the income statement.Collinear variablesAll explanatory variablesThe response variableThe predicted valuesthe interrelationships among the primary activities of the firm and corporate managementthe industry and the competitive environmentthe internal analysis of the firm and the external analysis of the industry and competitive environmentthe primary and support activities of the firmaccretioncapitalizationdepreciationamortizationU.S. and Canadian companies, but not other international companies.U.S companies but not international companies.international companies but not U.S. companies.U.S and international companies.$1,600$1,500$2,900$2,800using related diversification to achieve value by integrating vertically in order to acquire market powerusing related diversification to achieve value by pooling negotiating power to achieve market powerusing related diversification to achieve value by leveraging core competencies to achieve economies of scopeusing related diversification to achieve value by integrating vertically in order to attain economies of scopeDoes not represent a cash flow.Financing activities section.Investing activities section.Operating activities section.Strategy implementationBusiness-level strategyCorporate-level strategyCorporate governance$9,000$1,800$6,300$12,600Tracing any debit memorandums from the bank to the companys recordsA review of the cash budgetAn accounting policies manualThe use of pre-numbered checksA Note Payable due December 31, 2015A lawsuit judgment to be decided on January 10, 2015An Accounts Payable due January 31, 2015Accrued salaries payable from 2014Stockholders equity will increase.total assets will remain the same.total assets will decrease.total assets will increase.Retained earnings statementStatement of cash flowsIncome statementBalance sheetNo, if the data set is nonempty, there is always a modeNo, unless there is an odd number of observationsYes, if there are no observations that occur more than onceYes, if two observations occur twiceEmpirical probabilityA priori probabilityObjectivity probabilitySubjective probabilityorganization response time is increasedit increases the time it takes to detect changes in the competitive environmentIt reduces time lagsorganizational flexibility is reducedStrategic objectiveLine mangers individual goalVague statement of directionVision statementzero balances for all accountsonly income statement accountsonly balance sheet accountszero balances for balance sheet accountsIndependent outside auditors must eliminate redundant internal controls.Companies must develop sound internal controls over financial reporting.Companies must assess the functionality of internal controls only when a violation occurs.Internal auditors replace independent outside auditors when evaluating the level of internal control.Part of the power of the market life cycle is its ability to serve as a short-run forecasting device.It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously.It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives.Trends suggested by the market life cycle model are generally not reversible or repeatable.implies that receivables with different characteristics should be reported separately.implies that receivables with different characteristics should be reported as one un-segregated amount.requires that receivables with different characteristics should be reported separately.requires that receivables with different characteristics should be reported as one un-segregated amount.Infinity0-1+1using related diversification to achieve value by integrating vertically in order to attain economies of scopeusing related diversification to achieve value by pooling negotiating power to achieve market powerusing related diversification to achieve value by integrating vertically in order to acquire market powerusing related diversification to achieve value by leveraging core competencies to achieve economies of scopeStrategy must be focused on long-term objectives.Strategy must be focused on one specific area of an organization.Strategy must be directed toward overall organizational goals and objectives.Strategy must be focused on competitor strengths.$120,000$280,000$400,000$4,000,0001-for-84-for-18-for-12-for-895%97.5%5%2.5%Cost of goods sold is an expense for service enterprises but not for merchandising companies.The operations in merchandising companies and service enterprises are identical.Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements.Merchandising companies generally have a longer operating cycle than service enterprises.The percent frequency equals the relative frequency multiplied by 100As opposed to the percent frequency, the relative frequency is divided by the number of observations the data set.The relative frequency equals the percent frequency multiplied by 100.The percent frequency equals the relative frequency multiplied by 100financial, organizational, and customerfinancial, environmental, and customerfinancial, organizational, and psychologicalfinancial, environmental, and socialTrumpeting Trumpets has the following inventory data:July 1: Beginning inventory 30 units at $120July 5: Purchases 180 units at $112July 14: Sale 120 unitsJuly 21: Purchases 90 units at $115July 30: Sale 84 unitsAssuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?$10,992$23,118$11,022$23,088(90 $115) + [(120 + 84 90) $112] = $23,118The percent frequency equals the relative frequency multiplied by 100As opposed to the percent frequency, the relative frequency is divided by the number of observations the data set.The relative frequency equals the percent frequency multiplied by 100.