Cultural competency is a shared system of symbols, beliefs, attitudes, values, expectations and norms for behavior
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: Cultural competency is an appreciation for cultural differences that affect communication and the ability to adjust one's communication style to ensure that efforts to send and receive messages across cultural boundaries are successful.
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Financial resources are the only kind of resource a new venture needs.
Answer the following statement true (T) or false (F)
Scott is an agent for Lee and his duties require him to fly to Chicago from Cleveland. Scott gets up late and misses his flight to Chicago so he has to buy a second plane ticket. As principal, Lee:
a. has a duty to reimburse Scott for the second plane ticket b. does not have a duty to reimburse Scott for the ticket because he had no duty to reimburse Scott for a plane ticket to Chicago anyway c. has a duty to reimburse Scott for half the plane ticket d. has a duty to reimburse Scott for 1/3 of the plane ticket e. none of the other choices are correct
Price-break models deal with the fact that the selling price of an item generally increases as the order size increases.
Answer the following statement true (T) or false (F)
Misstatements in the financial statements are most likely to occur when there are:
A. Failure to disclose major estimates made in the financial statements B. Omission of the auditor's report C. Omission of notes to the financial statements D. Failure to disclose major judgments made in the financial statements