Which of the Following Is Not One of the Basic

question 13

Multiple Choice

Which of the following is not one of the basic reasons that a company's strategy evolves over time?

• A)An ongoing need to abandon those strategy features that are no longer working well
• B)The proactive efforts of company managers to improve the company's financial performance and secure a competitive advantage
• C)The need on the part of company managers to make no adjustments to the company's business model
• D)The need to respond to the actions and competitive moves of rival firms
• E)The need to keep strategy in step with changing industry and competitive conditions

Recognize the impact of major accounting scandals on the accounting profession and legislative responses.

Differentiate between the legal concepts of negligence, fraud, and breach of contract as they apply to accountants.

Be aware of the accountant-client privilege and its limitations.

Understand how recent legal precedents affect accountant liabilities and practices.

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Definitions:

Environmental Resistance

A set of factors in an ecosystem that limits the growth of a population.

Biotic Potential

The maximum reproductive capacity of a species under optimal environmental conditions.

Critical Nutrients

Essential substances required for growth and maintenance of life that the body cannot synthesize in sufficient quantities and must be obtained through the diet.

Carrying Capacity

The maximum population size of a species that an environment can sustain indefinitely, considering the food, habitat, water, and other necessities available in the environment.