A common entrepreneurial malady is an aversion to record keeping.
Answer the following statement true (T) or false (F)
True
Entrepreneurs, in part because they are very busy, often fail to use formal control systems. One common entrepreneurial malady is an aversion to record keeping. Expenses mount, but records do not keep pace. Pricing decisions are based on intuition without adequate reference to costs. As a result, the company earns inadequate margins to support growth.
You might also like to view...
If a negative act of high moral intensity occurs in a business, which of the following is most likely to happen?
a. The company will face legal consequences, and employees of high moral intensity will be most upset. b. The company will face relatively low societal outrage, and those employees of low moral quality will react strongly. c. The public will experience strong moral outrage, but the company’s employees will be largely unaffected emotionally. d. The public will have almost no moral outrage, but the company’s employees will be very emotionally affected.
The percentage-of-sales method should be used for projecting the cost of goods sold and the expense items in the income statements.
Indicate whether the statement is true or false
Action information such as dates and deadlines should be placed in the ________ of an e-mail message or memo
Fill in the blank(s) with correct word
The currency in which a company presents its financial statements is known as the:
A. Reporting currency. B. Multinational currency. C. Historical cost currency. D. Specific currency. E. Price-level-adjusted currency.