Which one of the following items is correct concerning the time element of financial statements?
a. The balance sheet covers a period of time.
b. The statement of retained earnings explains changes during a particular period.
c. An income statement lists amounts at a specific point in time.
d. Both the income statement and the balance sheet cover a period of time.
b
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For fraud to occur, usually three elements are necessary: pressure, opportunity, and _______
a. excitement b. guidance c. rationalization d. money
Which of the following is/are true concerning pension plans?
a. The plan administrator serves in a fiduciary capacity for the benefit of employees. b. The employer cannot access assets in the pension plan except under specific conditions that vary, as a matter of pension law, by jurisdiction. c. The employer does not consolidate the assets and liabilities of the pension plan with its own assets and liabilities. d. The total amount of cash that the employer contributes to the pension plan over time is the total amount of pension expense that the employer must recognize in measuring net income. e. all of the above
Answer the following statement(s) true (T) or false (F)
1. Some conflict can help teams and organizations be more creative and innovative. 2. Process conflict refers to a clash between individuals about the direction, content, or goals of a work assignment. 3. Relationship conflict is considered to be the most negative and dysfunctional type of conflict. 4. Accommodation conflict management is an attempt to adjust one’s views to play down differences between parties. 5. Collaboration conflict management is a situation in which each party concedes something of value while Compromise conflict management is a joint effort by all parities to find a solution beneficial to everyone.
Explain the thought experiment created by John Rawls based on the "veil of ignorance," using an example to show how a decision maker can tactically apply this concept to minimize personal bias.
What will be an ideal response?