Explain the advantages of having outsiders as board members.
What will be an ideal response?
Because an outside board's income does not depend on the firm, they can look at issues more dispassionately than can insiders who are involved in daily decision making. Outside directors, for example, are freer to evaluate and to question a firm's ethical standards. Some operating executives, without the scrutiny of outside directors, may rationalize unethical or illegal behavior as being in the best interest of the company. In a family business, an outside board can help mediate and resolve issues related to leadership succession, in addition to providing more general direction. As outsiders, they bring to the business a measure of detachment from potentially explosive emotional differences. An outside board may also advise an entrepreneur to make tough decisions that are required to move the business forward. The board, for instance, may keep bringing the conversation back to issues that are easy to avoid. Directors on an outside board may also have a broad network of influential business friends and associates that they can reach out to on behalf of the company.
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A(n) ____________________ is an adult appointed by the courts to have custody and care of an incompetent party
Fill in the blank(s) with correct word
Bering Rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expected to take 6 years to remove. What journal entry would be needed to record the expense for the first year assuming 38,000 tons were removed and sold?
A. Debit Amortization Expense $112,100; credit Natural Resources $112,100. B. Debit Depreciation Expense $98,333; credit Accumulated Depreciation $98,333. C. Debit Depreciation Expense $93,158; credit Accumulated Depreciation $93,158. D. Debit Depletion Expense $112,100; credit Accumulated Depletion $112,100. E. Debit Depletion Expense $93,158; credit Accumulated Depletion $93,158.
$10,000 invested at 10% per year for 5 years earns interest equal to $6,105.10; therefore, $10,000
invested at 10% per year for 10 years will earn interest equal to $12,210.20 (2 times $6,105.10). Indicate whether the statement is true or false
What are six major “red flags” that point to both OD’s lack of relevance today and future opportunities for OD to create integrative solutions to the major issues facing tomorrow’s organizations?
What will be an ideal response?