_____ is a branch of accounting that addresses the needs of external stakeholders, including stockholders, creditors, and government regulators.
A) Forensic accounting
B) Investigative accounting
C) Managerial accounting
D) Financial accounting
Question 2 - Which of the following is a disadvantage of the corporate form of organization?
A) Both the corporation and its stockholders are taxed on profits retained and distributed.
B) Ownership of stock is easy to transfer.
C) More capital can be raised by the corporate form.
D) Corporations can hire better managers.
E) The organization survives its owners.
Question 3 - Beginning inventory plus net purchases minus ending inventory equals
A) cost of goods sold.
B) gross profit on sales.
C) total revenue.
D) the balance of merchandise inventory.
E) net income before sales.
Question 4 - After graduating with a marketing degree, James Smith was hired by a well-known public relations (PR) firm offering the opportunity to do PR work for large and small companies. According to Theory Y, James' supervisor would expect him to
A) ask how early he can leave each day.
B) avoid working too hard.
C) delegate most of his work to others.
D) seek to generate clientele and contacts for present and future public relations assignments.
E) spend most of his time reviewing the company's early retirement package.
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