The top management of a company determined that their end-of-year bonuses would not be given due to low sales. Suzanne, a department manager, informed her staff that even high-performing employees should not expect a bonus. Suzanne's ________ power was limited by the decision of the top management.
A. legitimate
B. expert
C. coercive
D. reward
E. referent
Answer: D
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An audit must be performed by persons who can make sound judgments relating to complex accounting issues
a. True b. False Indicate whether the statement is true or false
As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2, Gant paid $3,600 on accounts payable. Which of the following statements is incorrect?
A. Gant's current ratio will increase. B. Gant's quick ratio will increase and its current ratio will decrease. C. Gant's quick ratio will increase. D. Gant's working capital will remain the same.
What do accountants commonly do when the connection between an expense and the corresponding revenue is vague?
A. Match the expense with the period in which it is incurred. B. Recognize the expense at the time payment is made. C. Delay expense recognition until it can be matched with revenue. D. Accelerate revenue recognition and delay expense recognition.
Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead$157,050Estimated machine-hours 4,500Actual manufacturing overhead$156,000Actual machine-hours 4,580 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.The applied manufacturing overhead for the year is closest to:
A. $162,682 B. $159,842 C. $155,995 D. $158,789