Which approaches should an organization adopt for managing uncertainty in a complex and dynamic environment?
A. decentralized and organic approach, with mutual adjustment
B. centralized and organic approach, with mutual adjustment
C. centralized and organic approach, with direct supervision
D. decentralized and bureaucratic approach, with standardized skills
E. centralized and bureaucratic approach, with standardized work processes
Answer: A
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Songtress Company bought a machine on January 1 . 2012 . for $24,000, at which time it had an estimated useful life of eight years, with no residual value. Straight-line depreciation is used for all of Songtress' depreciable assets. On January 1 . 2014, the machine's estimated useful life was determined to be only six years from the acquisition date. Accordingly, the appropriate accounting change
was made in 2014 . Songtress' income tax rate was 40 percent in all the affected years. In Songtress' 2014 financial statements, how much should be reported as the cumulative effect on prior years because of the change in the estimated useful life of the machine? a. $0 b. $1,200 c. $2,000 d. $2,800
Which of the following situations would cause the margin of safety to be negative
a. The fixed cost are less than the contribution margin. b. Operating leverage is less than 100. c. Sales volume is less than the break-even point. d. The variable costs exceed the fixed costs.
Which of the following statements corresponds to an embargo?
a. It constitutes a total or near-total ban on trade with a foreign country. b. It corresponds to a restriction on the quantities of goods that may be imported. c. It is a refusal to trade or do business with certain foreign firms. d. All of the above
A firm has sales of $1 million, net income of $250,000, total current assets of $300,000, and accounts receivable of $200,000. The firm's accounts receivable turnover is
A) 0.33 times. B) 0.20 times. C) 1.50 times. D) 5.00 times. E) 1.25 times.