Which of the following is one of the elements of a management by objectives (MBO) program?
A. directional nature of goals
B. performance feedback
C. indefinite time periods
D. a top-down decision making approach
Answer: B
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The accounting department reports that the balance of accounts receivable is $210,000. You are willing to accept that balance if audit sampling suggests it is within $15,000 of the actual balance. Using a classical variables sampling plan, you compute a 95% confidence interval of $208,000 to $225,000. You would therefore:
A. not be able to determine the acceptability of the receivable balance. B. accept the $210,000 balance because the confidence interval is within the materiality limits. C. accept the balance but with a lower level of confidence. D. take a larger sample before totally rejecting the balance and requiring adjustments.
The concept of "too many generals and not enough soldiers" implies which type of conflict in groups?
A) reward conflict B) process conflict C) task interdependency conflict D) overlapping authority conflict
Trade servicers take orders from customers directly and persuade customers to buy their firm's products from distributors or other suppliers.
Answer the following statement true (T) or false (F)
During the preapproach stage of the selling process, a salesperson should:
a. provide information about various referrals and discounts available. b. learn as much as possible about a prospect's organization and its buyers. c. create point-of-purchase displays. d. handle price objections and close the sale.