What are the essentials of sensemaking?
What will be an ideal response?
A satisfactory answer would provide a rudimentary gloss on the definition of sensemaking given by Weick; a more sophisticated answer would do this and provide key examples.
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Management may have incentive to bias financial information, but the various users of the statements are not likely to have conflicting interests in the financial information
a. True b. False Indicate whether the statement is true or false
The performance of Steve, the manager of Center B, is evaluated the end of every month, by comparing the amount spent on manufacturing overhead with the budgets prepared at the beginning of the month. What type of responsibility center is Center B?
A) Cost center B) Discretionary cost center C) Profit center D) Revenue center
Financial statements prepared using generally accepted accounting principles:
a. use historical costs and are not adjusted for the effects of increasing prices. b. use historical costs and are adjusted for the effects of increasing prices. c. use market–based costs and are not adjusted for the effects of decreasing prices. d. use market–based costs and are adjusted for the effects of increasing prices.
S curve definition
a. A display of regressive costs, labor hours or other quantities plotted against time. b. A display of quantitative costs, labor hours or other quantities plotted against time. c. A display of aggregate costs, labor hours or other quantities plotted against time. d. A display of cumulative costs, labor hours or other quantities plotted against time. e. none of the above