71. For a firm to recognize an asset A. a resource must represent a future economic benefit that the firm controls as a result of a past transaction or exchange. B. the firm must be able to measure the resource with sufficient reliability. C. must impose a future economic sacrifice because of a past event or transaction that the firm has little or no discretion to avoid. […]
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 76) A hardware retailing company with several locations anticipated that it would have 96,000 sales units for 664 customer shipments. Average storage bin usage for various inventories was estimated to be 200 per day. The costs and cost drivers were determined to be as follows: Item Fixed Variable Cost […]
81. The following journal entry would be made to record the transfer of completed goods from Shoving to the finished goods inventory for this period: Finished Goods Inventory 525,000 Goods in Process Inventory, Shoving Dept 525,000 Multiple Choice Questions 82. Which of the following five types of products is least likely to be produced in […]
119. The following units of a particular item were available for sale during the year: Beginning inventory 150 units @ $755 Sale 120 units @ $925 First purchase 400 units @ $785 Sale 200 units @ $925 Second purchase 300 units @ $805 Sale 290 units @ $925 The firm uses the perpetual inventory system and there are 240 units of the item […]
21) Cartier, Inc.’s corporate charter authorizes it to sell 1 million shares of $0.50 par value common stock. As of December 31, 2011, the company had sold 500,000 shares for $4 each. Cartier has 20,000 shares of treasury stock that cost $100,000. On the December 31, 2011 balance sheet, the number of shares outstanding is ________ shares. A) 1,000,000 B) 500,000 C) 480,000 […]
141. Financial information for Price Company at December 31, 2014, and for the year then ended, are presented below: December 31, Cash $ 31,000 $ 15,000 Accounts receivable 28,500 30,000 Allowance for doubtful accounts […]
131. The following information is available to reconcile Sleepy Time Bedding’s book balance of cash with its bank statement cash balance as of July 31: a. On July 31, the company’s Cash account has a $25,862 debit balance, but its July bank statement shows a $28,177 cash balance. b. Check No. 1531 for $1,520 and Check No. 1540 for $752 were outstanding on […]
Table 4-3 Selected accounting data for the Mariot Services follows: Current assets$59,000 Current liabilities20,000 Long-term assets70,000 Long-term liabilities37,000 Total revenues25,000 Total expenses22,000 11) Referring to Table 4-3, the current ratio is: A) 1.13 B) 2.95 C) 2.26 D) 0.34 12) Referring to Table 4-3, the debt ratio is: A) 0.44 B) 2.26 C) 0.53 D) 0.29 Table 4-4 Selected accounting […]
61) On April 1 of the current year, Wood Services received $15,000 for services to be performed evenly over the next 12 months. Wood Services initially recorded the $15,000 as unearned service revenue. The adjusting entry on December 31 of the current year will include a: A) debit to service revenue for $11,250. B) debit to service revenue for $3,750. C) debit to unearned service […]
37.Which of the following should not be classified as a manufacturing cost? A. Indirect factory labor costs, such as salaries of plant security guards. B. Direct materials used in the production process. C. Utility bills related to factory operations. D. Commissions paid to salespeople. 38.In an aircraft factory, the inventory of direct materials would not include: A. Electronic instruments to be […]
1. In China, business tends to be more personal.( )
2. Over the last four years, the weakened U.S. economy has had a devastating impact on small business.( )
3. The outer layer, the general environment, is widely dispersed and affects organizations directly.( )
4. Toyota’s response to recent events like the global economic downturn and the deadly tusnami in Japan was to create a more efficiency driven culture with their focus turned to improve their internal environment instead of outward.( )
5. Current employees, management, and especially corporate culture are part of an organization's internal environment.( )
6. McDonalds, Burger King, and Checkers are competitors since all three sell fast food to individuals.( )
7. The labor market is made up by people in the environment who can be hired to work for an organization.( )
8. Labor market forces affecting organizations right now include the growing need for computer-literate knowledge workers and the necessity for continuous investment in human resources through recruitment, education, and training.( )
9. If Johnson Lumber provides trees for Westvaco Paper Manufacturing, then Johnson Lumber is considered a supplier for Westvaco.( )
10. According to Manager's Shoptalk in chapter 3, one of the rules of doing business in China is remembering that relationships are short-term.( )
11. The sociocultural dimension of the general environment includes societal norms and values.( )
12. An example of part of the legal-political dimension of the general environment is a government's report on the decline of unemployment rate.( )
13. More organizations are requiring all employees to perform boundary-spanning because environmental shifts can happen quickly.( )
14. Competitive intelligence professionals are really just in-house snoops who obtain information about other companies.( )
15. A joint venture involves a strategic alliance or program by two or more organizations.( )
16. Culture can be defined as the ability to speak different languages.( )
17. Physical symbols are associated with the surface level of organizational culture.( )
18. A narrative based on events within the organization that is frequently repeated is called an organizational story.( )
19. The mythical sales representative at Robinson Jewelers who delivered a wedding ring directly to the church because the ring had been ordered late is an example of a hero.( )
20. In determining what cultural values are important for the organization, managers should consider the external environment as well as the company’s strategy and goals.( )
21. An achievement culture is found in an environment that is dynamic and requires high-risk decision-making.( )
22. The consisteancy culture has an external focus and a consistency orientation for a dynamic environment.( )
23. Corporate culture plays a key role in creating an organizational climate that enables learning and innovative responses to threats from the external environment, challenging new opportunities, or organizational crises.( )
24. In a high performance culture, organizations put high emphasis on both culture and solid business performance as drivers of organizational success.( )
25. Companies in Quadrant D put high emphasis on both culture and solid business performance as drivers of organizational success.( )
26. The cultural leader articulates a vision for the organizational culture that employees can believe in and that generates excitement.( )
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more