It May Be (Is Probably the Case) That Family Owned

question 38

Multiple Choice

It may be (is probably the case) that family owned businesses the world over out-perform their publicly traded brethren. Which of these factors is attributed to family owned firm dominance over public firms?

• A) a focus on the long-term
• B) they stick to their core business
• C) fewer agency problems (manager-owner conflicts)
• D) all of the above

Understand best practices in personal digital security and privacy.

Describe authentication methods and their importance in securing data.

Understand the fundamentals of accounting consolidation process including the calculation of consolidated retained earnings.

Gain the ability to prepare and interpret consolidated financial statements including comprehensive income and financial position.

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Definitions:

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average of all units available for sale during the period.

Equivalent Units of Production

A concept used in cost accounting to standardize the quantity of output by converting unfinished products into their equivalent of finished goods.

Cost Per Equivalent Unit

A calculation used in process costing that measures the cost of producing a single unit, accounting for partially completed units.

Job-Order Costing

An accounting method that accumulates and assigns costs to specific jobs or batches of products.