Damage Control Is

question 35

Multiple Choice

Damage control is:

• A)almost always effective.
• B)reacting to negative events caused by a company error, consumer grievances, or exaggerated negative press.
• C)a public relations program designed to reach every purchasing group.
• D)not always advertised or promoted by companies involved.

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Definitions:

Extraordinary Items

Events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence.

Cumulative Effect

The total impact of a change in accounting principle on the net income reported in prior periods, if that change had been applied retrospectively.

Accounting Principle

A fundamental guideline or rule that underpins the financial reporting and accounting practices.

Common Shares Outstanding

The total number of shares of a corporation's stock that are currently owned by investors, including those held by institutional investors and company officers.