If a contingency is remote, the company does not need to record a liability and does not need to disclose it in the notes to the financial statements
Indicate whether the statement is true or false
TRUE
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The incremental model of decision making suggests that managers make decisions by
A. using processes that have worked in past experience. B. experimenting with alternatives in a controlled setting, one by one. C. choosing something that is "good enough." D. taking small steps to alleviate a problem. E. involving several lower-level employees.
An adjusting entry that increases an asset and increases a revenue is known as a(n):
A. Deferred revenue. B. Accrued revenue. C. Depreciation. D. Deferred expense. E. Accrued expense.
Merit pay is
a. a contingent amount of pay that is earned by managers whose subunits meet a target rate of return. b. always for a limited period of time and must be re-earned each period. c. any pay earned when the company is profitable. d. a pay increment received when a specific performance level is achieved.
Refer to Case 14.1. Amidst all the change, it is probably safe to say that Virginia is
a. suffering from multitasking stresses. b. not emotionally hardy. c. currently experiencing burnout. d. in the midst of the fight or flight syndrome