The heavy use of integrative mechanisms in the __________ multidivisional organizational structure is intended to achieve __________.
A. cooperative; economies of scope
B. competitive; cost efficiencies
C. functional; sensitivity to cultural diversity
D. SBU; a quick response to local customer needs
Answer: A
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Generally accepted methods of accounting for a change in accounting principle include
A) restating prior years' financial statements presented for comparative purposes. B) including the cumulative effect of the change in net income. C) prospective changes. D) making a prior-period adjustment.
Use the following information to answer the question below. The following transactions involving Lupine Corporation occurred during the year: Apr. 1 Purchased 2,000 shares of its own preferred stock for $20, the current market price. This is the first transaction involving its own stock engaged in by the company. May 3 Sold 400 of the shares purchased on April 1 for $25 per share. June 5 Retired
600 of the shares purchased on April 1 . The original issue price was $10 . The par value of the stock is $5. The entry to record the May 3 transaction would be: a. Treasury Stock, Preferred 10,000 Cash 10,000 b. Cash 10,000 Treasury Stock, Preferred 8,000 Paid-in Capital, Treasury Stock 2,000 c. Cash 4,000 Retained Earnings 6,000 Treasury Stock, Preferred 10,000 d. Treasury Stock, Preferred 8,000 Cash 8,000
Which of the following is not an internal control activity for cash?
a. Employees who have access to cash should be bonded. b. Recordkeeping and physical custody of cash should be performed by the same person. c. The amount of cash on hand should be kept to a minimum. d. Banking facilities should be used as much as possible.
While trying to triangulate data obtained from surveys and interviews, you found inconsistency among the two sets of data. Which one is an appropriate reaction to this inconsistency?
a. Oh well, it means that I need to throw away these data. b. I expected to see consistency or inconsistency among the multiple sources of data. c. I will have to go with the quantitative survey data, instead of the qualitative interview data. d. I will have to go with the qualitative interview data, instead of the quantitative survey data.