Answer the following statements true (T) or false (F)
1. The workplace is less diverse and more complex than it was a few decades ago.
2. Technology eliminates the need for multicultural awareness.
3. Scientific management identifies the most efficient and effective manner for
performing a task.
4. Gangplank theory was the first formal recognition of horizontal communication.
5. Dale Carnegie was one of the first writers to link communication skills with
managerial effectiveness.
1. FALSE
2. FALSE
3. TRUE
4. TRUE
5. TRUE
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Below is financial data for Fawnsworth Industries' current year. Net sales on account during year $500,000 Cost of merchandise sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000 Refer to the data for Fawnsworth Industries. Based on this information, what is the accounts
receivable turnover for the current period? a. 10.0 times b. 12.5 times c. 11.1 times d. 14.3 times
Describe the practices of systems buying and systems contracting
What will be an ideal response?
Listed below are six of the seven assertions about classes of transactions and events made in the purchasing process. For each, give an example of how an auditor could use one of the typical documents in the purchasing process to test the assertion.OccurrenceCompletenessAuthorizationAccuracyCutoffClassification
What will be an ideal response?
Below are the year-end balance sheets for Wolken Enterprises:
Assets:2020 2019 Cash$ 200,000 $ 170,000 Accounts receivable864,000 700,000 Inventories 2,000,000 1,400,000 Total current assets$3,064,000 $2,270,000 Net fixed assets 6,000,000 5,600,000 Total assets$9,064,000 $7,870,000 Liabilities and equity: Accounts payable$1,400,000 $1,090,000 Notes payable 1,600,000 1,800,000 Total current liabilities$3,000,000 $2,890,000 Long-term debt2,400,000 2,400,000 Common stock3,000,000 2,000,000 Retained earnings 664,000 580,000 Total common equity$3,664,000 $2,580,000 Total liabilities and equity$9,064,000 $7,870,000 Wolken has never paid a dividend on its common stock, and it issued $2,400,000 of 10-year non-callable, long-term debt in 2019. As of the end of 2020, none of the principal on this debt had been repaid. Assume that the company's sales in 2019 and 2020 were the same. Which of the following statements must be CORRECT? A. Wolken increased its short-term bank debt in 2020. B. Wolken issued long-term debt in 2020. C. Wolken issued new common stock in 2020. D. Wolken repurchased some common stock in 2020. E. Wolken had negative net income in 2020.