What are group norms, and how do they develop? Give an example of group norms for an organization you belong to.
What will be an ideal response?
Examples will vary. Group norms are the guidelines or rules your group implements about not only how members should behave but also how your group should approach its tasks. Norms tend to transpire verbally and are agreed upon by the rest of the group. One example: In the local SGA (Student Government Association), the president of the organization calls the meeting to order and the rest of the group quietly listens to the agenda. The secretary types up the notes. When speaking, members raise their hands and wait for the president to call on them. When a vote is in order on a subject, the president says, “All in favor,” and those in favor raise their hands. Then the president asks, “Any opposed?” and those opposed have an opportunity to speak their opinion.
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Which of the following items should be classified as an extraordinary item on an income statement?
a. gain on the retirement of a bond payable b. loss from hurricane damage in Iowa c. loss due to a discontinued operation in Colorado d. selling treasury stock for more than the company paid for it
The following selected financial information for a company was reported for the current year end. Calculate the following company ratios:(a) Accounts receivable turnover.(b) Inventory turnover.(c) Days' sales uncollectedAccounts receivable, beginning-year $170,000Accounts receivable, year-end 190,000Merchandise inventory, beginning-year80,000Merchandise inventory, year-end60,000Cost of goods sold580,000Credit sales1,000,000
What will be an ideal response?
When calculating the cost per equivalent unit in process costing, what is the difference between the weighted-average and FIFO methods?
A) With FIFO, prior period costs are not combined with current period costs. B) With FIFO, prior period costs are combined with current period costs. C) With weighted-average, prior period costs are not combined with current period costs. D) There is no difference between the two methods.
Which of the following concepts is not an element of Machiavellianism?
A. face threat sensitivity B. desire for control C. desire for status D. distrust