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Which one of the following is least likely an advantage associated with a wholly owned foreign subsidiary?

(A)Protection of proprietary information.

(B)Ability to coordinate activities of the subsidiary with other activities.

(C)Ability to maintain quality control.

(D)Minimizes capital investment required.

The Correct Answer

The statement of cash flow reports are used for the following: (I)Investing activities(I) Financing activities(I)I Operating activities(I) Supplemental activities Mark one answer:

(A)I (B)II (C)III (D)I, II, and III (E)I, II, III, and IV

Correct Answer: E

Which of the following is subtracted from net sales to determine gross profit?

(A)Mark one answer: (B)Cost of goods sold (C)Expenses (D)Both cost of goods sold and expenses (E)Cost of goods sold, expenses, and taxes (F)Taxes

Correct Answer: A

A static budget contains which of the following amounts?

(A)Actual costs for actual output. (B)Actual costs for budgeted output. (C)Budgeted costs for actual output. (D)Budgeted costs for budgeted output.

Correct Answer: D

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