In the context of artifacts, which of the following statements is true of organizational stories?

A) They are very specific and do not allow listeners to draw differing conclusions.
B) They are typically part of rites of degradation.
C) They help in orienting new employees.
D) They are almost always based on myths.

Paranich Co. acquired Crowley Co. in a business combination at December 31, 20X4. Crowley has a capital asset that it has been amortizing at a rate of $10,000 per year. At the time of the acquisition, the asset had a book value of $70,000 and a fair value of $77,000. The asset has a remaining life of seven years. With respect to this asset, how much amortization expense should Paranich report on its December 31, 20X5, consolidated financial statements?

A) $ 1,000
B) $ 7,700
C) $10,000
D) $11,000

When a firm uses internal auditors, it is adhering to which of the following internal control elements?

A) risk assessment
B) monitoring
C) proofs and security measures
D) information and communication

Corporate stocks are treated as goods under the UCC.

The follow-up stage is a one-time event; it is not used for repeat customers.

Global expansion often begins with

A) franchising.
B) exporting of goods.
C) joint ventures.
D) direct investment.
E) strategic alliances.