You are the CEO of Winton Enterprises, a large specialty manufacturer of automobile parts. You have a $200 million business providing car parts to a number of auto manufacturers, both domestic and international. Many years ago, your company offered "lifetime health benefits" to all retirees. Foreign competition has forced you to move some of the manufacturing to China. This off shoring of work has reduced your expenses tremendously. However, the cost of medical insurance and benefits for retirees has risen dramatically. The program for retirees is in serious jeopardy. Recently, new hires are told to invest their benefits money as they see fit; they are not offered lifetime health benefits. Now you must inform the company's retirees that they will have to pay half of the cost of their medical benefits beginning January 21 of next year

Grace period is a period of time before the credit card company starts charging late fees.truefalse

Which of the following statements concerning an organization's strategy is true? a. cost accountants formulate strategy in an organization since they have more inputs about costs. b. businesses usually follow one of two broad strategies: offering a quality product at a high price, or offering a unique product or service priced lower than the competition. c. a good strategy will always overcome poor implementation. d. strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.