What is the primary advantage of an individual incentive plan? Also identify a related disadvantage.
What will be an ideal response?
The primary advantage of an individual incentive plan is that employees can readily see the relationship between what they do and what they get. With group- and organization-based plans, this relationship is often not so clear. Because of this advantage, individual incentives can also cause problems. Competition among employees can reach the point of producing negative results.
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Richardson, Inc. purchased raw materials worth $800 for cash. The journal entry to record this transaction will include ________. Process costing is used.
A) a debit to Cash for $800 and a credit to Raw Materials Inventory for $800 B) a debit to Accounts Payable for $800 and a credit to Raw Materials Inventory for $800 C) a debit to Raw Materials Inventory for $800 and a credit to Accounts Payable for $800 D) a debit to Raw Materials Inventory for $800 and a credit to Cash for $800
Did the court discipline Robinson for his unauthorized practice of law or his false advertising?
What will be an ideal response?
The result obtained when a decision alternative is chosen and a chance event occurs is known as
a. happenstance b. consequence c. alternative probability d. conditional probability
S corporation shareholders who own more than 2% of the outstanding stock are eligible for which of the following tax-free benefits?
A) group term life insurance exclusion under Sec. 79 for premiums paid for up to $50,000 coverage B) exclusion for cafeteria plan benefits C) exclusion from income for premiums paid for accident and health and medical reimbursement plans D) None of the above.