In Evaluating Proposed or Existing Strategies,managers Should

question 35

Multiple Choice

In evaluating proposed or existing strategies,managers should

• A)initiate new initiatives even though they do not seem to match the company's internal and external situation.
• B)scrutinize the company's existing strategies on a regular basis to ensure they offer a good strategic fit,create a competitive advantage,and result in above-average performance.
• C)evaluate the firm's business model at least every three years.
• D)ensure core capabilities are incorporated for establishing a competitive advantage.
• E)align existing strategies with new strategies to emphasize incremental gains.

Distinguish between various types of accounts such as assets, liabilities, equity, revenue, and expense accounts.

Identify the principles of accrual accounting, including the recognition of revenues and expenses.

Recognize the definitions and treatment of prepaid expenses, accrued expenses, and deferred revenues.

Relate the effect of proper and improper adjustments on financial statements’ accuracy and completeness.

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Definitions:

Social And Political Crises

Situations marked by severe instability, unrest, or conflict within a society or political system, often leading to significant change or upheaval.

English Colonies

These were territories around the world, including in North America, Africa, and Asia, that were under the control and governance of England before becoming independent nations.

Late Seventeenth Century

The closing decades of the 17th century, often referring to the period from 1660 to 1700, which was characterized by both turmoil and progress in various world regions.

Poverty

A state where an individual or community lacks the financial resources and essentials for a minimum standard of living.