In the early 1900s, the Standard Oil Company purchased many of its competitors in order to reduce competition and increase its share of the domestic oil market. The firm's actions are consistent with a strategy of making acquisitions to ________.

A) Enhance managerial control.
B) Exploit synergies.
C) Enhance revenues.
D) Reduce taxes.
E) Reduce capital needs.

Standard Oil

An American oil producing, transporting, refining, and marketing company. Established in 1870, it became the largest oil refiner in the world and was later divided due to antitrust laws.

Domestic Oil Market

The market that deals with the supply, demand, and pricing of oil within a country's borders.

Acquisitions

The act of acquiring control of another company by purchase or exchange of stock.