What are the clues to understanding an organization's culture? List the characteristics of a strong culture.
What will be an ideal response?
Answer: Certain organizational characteristics define a strong or a weak culture. Strong cultures employ people who understand and strongly believe in the firm's goals, priorities, and practices. Strong cultures encourage high values, laudable goals, and useful behaviors.
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On November 1, Greenfield Corporation borrowed $55,000 from a bank and signed a 12%, 90-day note payable in the amount of $55,000 . If you assume 360 days in year, the November 30 adjusting entry will be:
a. Debit Interest Expense $550 and credit Cash $550. b. Debit Discount on Notes Payable $1,100 and credit Interest Payable $1,100. c. Debit Interest Expense $550 and credit Interest Payable $550. d. Debit Interest Expense $550 and credit Notes Payable $550.
Liabilities that might arise from which of the following probably would be disclosed only in the notes to the financial statements?
a. Possible warranty claims b. Guarantees of the debt of other companies c. Possible bankruptcy of an important customer d. Estimated income taxes for the current year
Which of the following is the best approach to improving your self-image?
A) Learn to develop a positive mental attitude. B) Maintain a clear focus on past mistakes. C) Spend time getting to know your competition. D) Spend time each day contacting your current customers. E) Develop a general level of knowledge on many topics.
In a leasehold estate, a tenant may move out of the property and sublease it to another party unless prohibited by the lease
Indicate whether the statement is true or false