Information is data converted into a meaningful and useful context. The truth about information is that its value is only as good as the people who use it. People using the same information can make different decisions depending on how they interpret or analyze the information.
Answer the following statement true (T) or false (F)
True
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Burger World is a major fast food chain and it bought its coffee from Koffee Inc Jake is a salesman for Java Inc Lisa works for Burger World and is in charge of purchasing supplies such as coffee
Jake offers Lisa $250,000 if she will stop buying coffee from Koffee Inc and purchase coffee from Java Inc Lisa agrees and stops buying from Koffee and purchases only Java Inc coffee. Koffee Inc is very upset at losing the Burger World account as it sold over $7 million in coffee each year to Burger World. If Koffee Inc discovers this agreement between Lisa and Jake, Koffee Inc can A) do nothing as Burger World can buy products from any supplier it wants B) successfully sue Lisa for passing off C) successfully sue Burger World for misuse of confidential information D) successfully sue Lisa and Jake for intentional interference with economic relations E) successfully sue Lisa and Jake for conversion
Which of the following is correct with respect to The Statement of Budgetary Resources?
A. The statement provides information on how budgetary resources were obtained and the status of those resources at year-end. B. The Statement of Budgetary Resources follows the budgetary (not accrual) basis of accounting. C. The budgetary basis of accounting is prescribed by OMB, not FASAB. D. All of the above statements are correct.
All of the following are effective e-negotiating practices except _____
a. use a blended negotiation, starting with an initial face-to-face meeting or a telephone call to build essential rapport with the other party b. establish common ground and interests to build mutual trust c. use "emoticons" to counter the lack of nonverbal awareness d. forward e-mail negotiations to the other party's immediate superior for verification e. proofread the entire message, including addressees, before sending the e-mail out
The Payroll records of Oregon Mist contained the following information for the month of November: Salaries$350,000 FICA Taxes - Employee 21,700 FICA Taxes - Employer 21,700 Federal Unemployment Taxes 3,500 State Unemployment Taxes 1,750 The journal entry to record the monthly Payroll Tax Expense would include a:
A. debit to Payroll Tax Expense of $26,950. B. debit to Payroll Tax Expense of $25,200. C. credit to FICA Taxes Payable of $43,400. D. debit to Payroll Tax Expense of $48,650.