Acme Global Has Endeavored to Drive Out All Unnecessary Business

question 58

Multiple Choice

Acme Global has endeavored to drive out all unnecessary business expenses in their steel industry operations.Acme Global is likely following a _________ strategy.

• A)niche
• B)cost leader
• C)focus leader
• D)differentiation
• E)price leader

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Definitions:

Subchapter S Corporation

A corporation that meets specific Internal Revenue Code requirements and elects to be taxed as a pass-through entity, avoiding double taxation on its income.

Domestic Corporation

A company that is incorporated under the laws of the country in which it is doing business.

Accrual Basis

An accounting method that records income when earned and expenses when incurred, regardless of when the cash is received or paid.

Average Annual Gross Receipts

An average of a business's total gross income over a specified period, often used to determine tax reporting requirements or eligibility for small business tax concessions.