On a multi-step income statement, merchandisers report operating expenses in two categories—selling expenses and administrative expenses
Indicate whether the statement is true or false
TRUE
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Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and usage data, compute the direct materials price variance. Direct materials purchased and used 99,000 pounds Price paid for direct materials $4.00 per pound Number of good units produced 9,000 units
a. $45,000 (F) b. $45,000 (U) c. $54,000 (F) d. $99,000 (F)
Why can deontology be problematic for a business?
a. Compulsive or consistent honesty is not conducive to good management. b. Respecting every stakeholder or customer equally is likely not sound business practice. c. Constantly seeking the welfare of the poorest members of society is at odds with seeking a company’s profits. d. Seeking the benefit of the majority can be detrimental to some key stakeholders in the minority.
Why, according to your textbook, is trust in collaboration critical to learning?
a. Because the organization can exploit more from its partner if the partner trusts them b. Because collaborations rely on trust to stay alive c. Because trust ensures learning occurs through an open and relaxed environment where ideas can grow and spread d. Both b and c
In civil proceedings, the right to have the matter determined by a jury exists in all
provinces. Indicate whether the statement is true or false