Stevenson, ross, and warner (srw) maddie is the ceo of stevenson, ross, and warner (srw), a regional accounting firm. srw offers services in most areas of accounting, including auditing and consulting services. the firm must follow the gaap rules, just like any other accounting firm. if there are information gaps that are not addressed and resolved by the firm, srw could be considered a violator of the sarbanes-oxley act. maddie understands what must be done and wants every employee of the firm to understand that they have to follow all the rules and regulations. like any other industry, accounting is a competitive industry and employees of accounting firms must be productive, progressive, and well trained. refer to stevenson, ross, and warner. one of srw's clients is abc electronics. srw develops abc electronics' statements and reports for abc's stockholders, financial analysts, and bankers. these services can be classified as which of the following? a. non-accounting servicesb. tax accountingc. financial accountingd. managerial accountinge. cost accounting

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.

Which of the following is an example of an unsought good? a. cameron purchases a new bike. b. jordan buys paper towels. c. taylor buys cupcakes from her favorite bakery. d. riley buys new windshield wipers for her car.

Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.