Alexis de Tocquiville was concerned that, "…the art advances, the artisan recedes." He meant by that statement that
a. The product of the artist often becomes more important than the artist her/himself.
b. As Plato's vision of the division labor is more and more applied, workers will become more weak and more narrow-minded.
c. He was in agreement with Alexander Hamilton's philosophy that manufacturing will furnish a greater scope for the diversity of individual talents, thus discriminating men and women from each other.
b
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When attempting to budget the ending balance of cash, the procedure is: Beginning balance plus net income minus cash disbursements equals ending balance of cash
Indicate whether the statement is true or false
The primary goal of a financial manager should be to _____.
A. minimize operating costs B. minimize interest payments C. minimize tax payments D. maximize operating income each year E. maximize the value of the firm's stock
In time studies, normal time is:
A) average observed time multiplied by a performance rating factor. B) larger than standard time. C) determined by historical experience. D) converted to standard time by the performance rating factor. E) one hour later during the summer months.
Unearned revenues refer to a(n):
A. Expense incurred because a customer has paid in advance. B. Decrease in an asset. C. Asset that will be used over time. D. Increase in revenues as a result of delivering products or services to a customer. E. Liability that is settled in the future when a company delivers its products or services.