Question Eximco Corporation (based in Champaign, Illinois) has a number of transactions with companies in the country of Mongagua, where the currency is the mong. On November 30, 2015, Eximco sold equipment at a price of 500,000 mongs to a Mongaguan customer that will make payment on January 31, 2018. In addition, on November 30, 2017, Eximco purchased raw materials from a Mongaguan supplier at […]
61. The _____ approach minimizes subjectivity, relying on objective, quantifiable indicators of performance. A. quality B. comparative C. results D. attribute Results approach is highly acceptable to both managers and employees. It links an individual’s results with the organization’s strategies and goals. 62. A performance management system designed with a strong quality orientation can be expected to do all of the following EXCEPT: A. emphasize an assessment of […]
46. Which of the following is not an important financial consideration in capital budgeting? A. The timing of the investment’s future cash flows. B. The investment’s future profitability. C. The sunk costs related to the investment. D. The initial cost of the investment and its estimated salvage value. 47. When using the net present value method for evaluating an investment, an increase in the required rate of […]
85. Wolfgang, Inc.Selected data from the financial statements of Wolfgang, Inc. are presented below. 2012 2011 Net income $ 150,000 $ 120,000 Cash dividends paid on common stock 42,000 38,000 Market price per share of common stock 15 14 Purchases of treasury stock 100,000 -0- Common stockholders’ equity 1,780,000 1,637,000 Average number of common shares outstanding 104,000 95,000 Refer […]
81. Region Jet has a $50 million liability at December 31, 2015, of which $10 million is payable in 2016. In its December 31, 2015 balance sheet, the company reports the $50 million debt as a.A $50 million current liability on the balance sheet. b.A $50 million long-term liability on the balance sheet. c.A $10 million current liability and a $40 million long-term […]
201.After preparing an (unadjusted) trial balance at year-end, R. Chang of Chang Window Company, Inc. discovered the following errors: 1. Cash payment of the $225 telephone bill for December was recorded twice. 2. Cash payment of a note payable was recorded as a debit to Cash and a debit to Notes Payable for $1,000. 3. A $900 cash dividend paid to the […]
81. Good, Inc. sold inventory for $1,200 that was purchased for $700. Good records which of the following when it sells inventory using a periodic inventory system? A. No entry is required for cost of goods sold and inventory. B. Debit Cost of Goods Sold $700; credit Inventory $700. C. Debit Cost of Goods Sold $1,200; credit Inventory $1,200. D. Debit Inventory $700; credit Cost of Goods Sold $700. […]
41. Which of the following statements about intangible assets is FALSE? A. They include human capital. B. They are less valuable than physical assets. C. They are equally or even more valuable than financial assets. D. They are difficult to duplicate or imitate. Intangible assets are equally or even more valuable than physical assets. 42. Tacit knowledge is an example of _____ capital. A. social B. customer C. human D. intellectual […]
86.Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,260. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate of .6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee’s […]
17) The president of Silicon Company has just returned from a week of professional development courses and is very excited that she will not have to change the organization from a centralized structure to a decentralized structure just to have responsibility centers. However, she is somewhat confused about how responsibility centers relate to centralized organizations where a few managers have most of the authority. […]
Over the course of the last module and this one, we’ve spent some significant time talking about Texas’ plural executive. Texas has a number of executive officers who are elected separately, and have major responsibilities in running the state’s government. This arrangement that Texas has set up for this is far from unique: most states have set up similar structures in which officials share responsibilities between one another. Most states have at least an elected Attorney General (43 states), Secretary of State (37 states), and Treasurer (34 states). Some states, like New Jersey, have single executives, which means that all governing responsibility and accountability falls on one executive: the Governor, who appoints all members of his cabinet as well as heads of agencies.
Supporters of a plural executive fear that a single executive would lead to an all-powerful (too powerful!) governor. As you might remember from my lecture about the history of the Texas Constitution, that was definitely a concern that the drafters of the 1876 Constitution shared. They were trying to make sure that no governor would ever be as powerful again as Governor E.J. Davis. They also believed that a plural executive would bring the government of the state closer to the people, and make it easier for the people to hold the state government accountable.
In contrast to that, those who support a plural executive believe that a single executive will make a state government run more efficiently, because of the lack of individual electoral incentives and conflicting priorities between members of the executive branch. Additionally, that lack of electoral incentives makes it so that the state government can present a unified policy agenda, rather than one that is spread between different constituencies (see, for instance, a State Board of Education that is elected but using different districts than any other office in the state of Texas).
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