This year, Hamilton, a local manufacturer of off-shore drilling platforms, entered into a contract to construct a drilling platform that will be placed in the North Atlantic Ocean. The total contract price is $5,000,000, and Hamilton estimates the total construction cost at $3,000,000. Actual costs incurred this year are $600,000. If Hamilton uses the percentage of completion method, the gross
profit for this year is
A) $0.
B) $400,000.
C) $600,000.
D) $2,000,000.
B) $400,000.
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How does issues management differ from standard crisis management?
A) Issues management is more forward-thinking. B) Standard crisis management plans from the outside-in. C) Issues management identifies all potential issues. D) Standard crisis management is a thing of the past.
In her organization’s _________ plan, Nicole is paid for each widget she produces.
A. bonus B. commission C. merit pay D. piecework E. exit pay
A macro-marketing system should
A. depend solely on a society's political institutions. B. match supply and demand and accomplish a society's objectives. C. provide everyone with the same goods and services. D. be part of a market-directed economy, not a command economy.
Answer the following statement(s) true (T) or false (F)
1. An entrepreneur is simply another term for manager. 2. An entrepreneur is one who organizes the resources, takes the risks, and receives the financial and other rewards of starting a new enterprise. 3. Professionals, such as doctors and lawyers, are never considered to be entrepreneurs. 4. All entrepreneurs exhibit one consistent trait: they are all extroverted. 5. All entrepreneurs exhibit one consistent trait: they are all optimistic.