A proactive personality will typically wait for the company to point out what problems need fixing
Indicate whether the statement is true or false.
Answer: FALSE
You might also like to view...
The following covenants are extracted from the indenture for McMorris Industries' 20 year-bond. The indenture provides that failure to comply with its terms in any respect automatically advances the due date of the loan to the date of noncompliance. REQUIRED: Assume that each of these is an independent scenario and identify the audit steps that should be taken or reporting requirements necessary
in connection with (a) through (d). a. The debtor company shall endeavor to maintain a working capital ratio of 2.5 to 1 at all times, and, in any fiscal year following a failure to maintain this ratio, the company shall restrict compensation of the CEO and executive officers to a total of no more than $1,000,000 . Executive officers for this purpose shall include the chairman of the board of directors, the president, all vice presidents, the secretary, and the treasurer. b. The debtor company shall insure all property that is security for this debt against loss by hurricane to the extent of 90% of its actual value. Insurance policies securing this protection shall be filed with the trustee. c. The debtor company shall pay all taxes legally assessed against the property that serves as security for this debt within the time provided by law for payment without penalty and shall deposit receipted tax bills or equally acceptable evidence of payment of same with the trustee. d. A sinking fund shall be established and deposited with the trustee by semiannual payments of $450,000, from which the trustee shall, at his/her discretion, purchase bonds of this issue.
Concert Division reported a residual income of $200,000 for the year just ended. The division had $8,000,000 of invested capital and $1,000,000 of income. On the basis of this information, the imputed interest rate was:
A. 20.0%. B. 2.5%. C. 12.5%. D. 10.0%. E. None of the answers is correct.
The major difference between consumerism and social responsibility is that consumerism is _____
a. based on legal issues, whereas social responsibility is based on moral issues b. based on moral issues, whereas social responsibility is based on legal issues c. concerned with an obligation to all parties, whereas social responsibility reflects an obligation to final consumers d. concerned with an obligation only to consumers, whereas social responsibility reflects an obligation to all parties
Which of the following is not a reason why growth in the supermarket sector has been consistently declining over the last decade?
A. the increase in competition from warehouse clubs B. the increase in competition from online retailers. C. the decrease in population D. the increase in out-of-home eating E. the general rise in food costs