Why have many managers in recent years moved toward emphasizing employee participation in the budgeting process rather than simply imposing the budget on the employees?
Many managers believe that the quality of the budget is enhanced through employee participation. This is attributable in part to the fact that many employees possess technical information that management does not have. Through the budgeting process this technical information is imparted to management. Further, participation in the budgeting process may lead employees to be more attentive to the budget and feel like a more important part of the organizational team. Employees feel more committed to meeting a budget they helped prepare. Preparing a budget gives the preparer management training, which makes him or her better prepared for advancement in the company.
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A truck is purchased for $70,000. It has a five-year life and a $10,000 residual value. Under the straight-line method, what is the asset's carrying value after three years?
A) $24,000 B) $34,000 C) $36,000 D) $46,000
Jed is interested in using a forced-ranking scale to evaluate the employees in his work group. He should be aware of the following criticisms of the forced-ranking scale: ______.
A. Concerns have been raised that forced rankings are demotivating B. Forced rankings can hinder team satisfaction C. Some companies noticed that retention increased each year after the performance review process D. Employees keep listening after they get their ranking in order to hear the essential feedback needed to improve their performance
When employees are very relaxed (not at all stressed), they perform poorly. When employees are concerned about meeting deadlines (somewhat stressed), they perform strongly. When employees are overwhelmed (very stressed), they perform poorly. The relationship between stress and performance can be described as…
a. positive b. negative c. linear d. curvilinear
Which of the following statements about the adjusted and post-closing trial balances is correct?
A. The post-closing trial balance debit column total is the amount to be shown as Total Assets on the Balance Sheet. B. The primary purpose of the post-closing trial balance is to see whether revenues are greater than expenses. C. The post-closing trial balance is a check that the accounting records are still in balance after posting all closing entries to the accounts. D. The adjusted trial balance is prepared after the financial statements to verify that the numbers are accurate.