Michael's sets goals at the top of the organization. Then, it breaks down these objectives for merchandise categories and regions. When these objectives reach the buyers, each objective is personalized. What does this process demonstrate?
A. Functional development
B. Decentralized planning
C. Indirect planning
D. Top-down planning
E. Accountable design planning
Answer: D
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Which of the following statements included in management's assessment of the effectiveness of internal control over financial reporting would not cause the auditor to disclaim an opinion?
A. The entity plans to implement new controls. B. Management believes the cost of correcting a material weakness would exceed the benefits derived from implementing the new controls. C. Disclosure of material weaknesses corrected during the period. D. Management includes disclosures about corrective actions taken by the entity after the date of management's assessment.
The daily output required from an assembly line is 300 units. If the line operates 5 hr a day, what is the cycle time per unit?
A. 1 hr B. 4 min C. 1 min D. 25 s
Tax Accounting, LLC, is a member-managed limited liability company. If the law in Tax Accounting's state is like the law in most states, unless the members have agreed otherwise, voting rights are apportioned according to? A) capital contributions
B) participation in management. C) the number of members. D) members' seniority.
Which of the following exculpatory clauses will most likely be enforceable?
A) An exculpatory clause that relieves a riding stable of ordinary negligence. B) An exculpatory clause that relieves a riding stable of gross negligence. C) An exculpatory clause that relieves a riding stable from intentional torts. D) A riding stable's exculpatory clause that is hidden in an eight-page document that all riders are required to sign.