Advantages of ____ departmentalization include:
1. Providing training grounds for new managers,
2. Helping firms develop local market areas and local customers' needs.
a. Product
b. Customer
c. Geographic
d. Regional
c. Geographic
An advantage often associated with geographic departmentalization is that it provides a training ground for new managers. The company can place managers out in territories and then assess their progress. The geographic basis also enables the firm to develop local market areas and adjust more quickly to local customers’ needs.
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How will the payee of the promissory note record the note on its books?
a. The promissory note will be recorded as an asset. b. The promissory note will be recorded as a liability. c. The promissory note will be recorded as revenue. d. The promissory note will be recorded as an expense.
Due to advanced communications technology and the standardization of general procedures, working capital management for multinational firms is no more complex than it is for large domestic firms.
Answer the following statement true (T) or false (F)
A controlling account is used to record the details of the individual accounts
Indicate whether the statement is true or false
In general, consolidated financial statements should be prepared
A) when a corporation owns more than 20% of the common stock of another company B) when a corporation owns more than 50% of the common stock of another company C) only when a corporation owns 100% of the common stock of another company D) whenever the market value of the stock investment is significantly lower than its cost