Which of the Following Statements About the Four Basic Business

question 192

Multiple Choice

Which of the following statements about the four basic business and management practices that researchers identified is most accurate? 

• A)Strategy and structure are more important for success than culture and execution.
• B)Culture and execution are more important for success than strategy and structure.
• C)In order for a company to be successful,it must use all four strategies.
• D)In terms of the basic business and management practices,the practice itself is less important than flawless execution of the one(s)the company does use.
• E)No strategy can work unless every stakeholder buys into it 100 percent.

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Definitions:

Sales Returns and Allowances

Deductions from gross sales that reflect products returned by customers and discounts provided for minor defects.

Contra-asset Account

A type of account in the general ledger that reduces the value of a related account when its balance is subtracted from the balance of the related account.

Contra-revenue Account

An account that is offset against a revenue account on the income statement, typically relating to sales returns, allowances, and discounts.

Restructure Loan

The process of modifying the terms of a loan agreement, typically to provide relief to the borrower by reducing interest rates, extending payment periods, or forgiving part of the loan.