rani.asthana

Which of the following principles states that a business should not report anticipated gains in accounting?

1. Conservatism

2. Materiality concept

3. Disclosure

4. Consistency

Given the following income statement, fill in the blanks for Gross Profit on Sales, Depreciation, Operating Income, Earnings before Taxes, Income Tax and Net Income.

EBIT is crucial in computing which of the following figures?

A Gross Income

B. Operating Expenses

C. Operating Profit

D. Net Income

“Cultures around the world are becoming increasingly similar, so companies should standardize their products and global marketing efforts”.

General prompts: Do you agree or disagree with this reasoning? Are there certain industries for which it might be more or less true?

Look at the the overall issue of standardization versus customization. And do remember examples to stand behind your reasoning.

State the distinction between standardization and customization and explain how companies create world wide marketing programs.