Describe how a union organizing drive can legally be initiated.
What will be an ideal response?
A union organizing drive can be legally initiated in two ways. First, employees may initiate an organizing drive by either forming their own union or contacting an existing union to express interest in unionization. Second, unions may initiate organizing campaigns by advertising, distributing information, and trying to contact employees to convince them of the benefits of unionization.
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Which of the following is an example of fraud?
a. A mistake in processing accounting data. b. An incorrect accounting estimate arising from misinterpretation of facts. c. Misappropriation of an asset. d. A mistake in the application of accounting principles.
Briefly describe each step in the consumer decision-making process
What will be an ideal response?
Company management is having a difficult time deciding whether to allot more money to a marketing campaign involving ad buys and promotional events, or to a staff of sales representatives to sell the organizers
What factor should they consider in allotting the budget? A) A national marketing campaign can cost more than the yearly salaries of an entire sales department. B) A marketing campaign can reach prospects in several geographic areas at the same time. C) Salespeople can visit several retail outlets a day. D) Salespeople work on commission. E) Even with a marketing campaign, retail outlets will need to order through and be trained on product knowledge by salespeople.
What is the profit constraint?
Billy Hill's Still William J Hill runs a small batch artisnal bourbon distillery at a secluded location in the hills of Kentucky. He makes two products, known among his customers as Rotgut and White Lightning. The recipes for the two have been passed down in the Hill family for generations and are Rotgut: 1 bushel of corn, 3 pounds of sugar, 2 hours of cooking time. For the premium blend, White Lightning, he needs 2 bushels of corn, 2 pounds of sugar, and 3 hours of cooking time. Both recipes make enough to fill two jugs, which sell for $8 apiece for Rotgut and $12 apiece for White Lightning. A quick inventory one crisp autumn morning reveals that William has on hand 40 bushels of corn, 70 pounds of sugar, and 50 jugs. He would like to brew up a few artisnal batches, but has recently received a tip that certain agencies have taken an interest in his talents and may be paying him a visit in three days, hence he plans to restrict any brewing activity to 72 hours at most, before he retreats to his home away from home, Lubbock. William cleans his equipment, lights a fire, and ponders the objectives. Obviously the first priority is restricting himself to 72 hours of work — any more than that and he runs the risk of an extended holiday. His second priority to make enough to acquire materials for the next production run and fund his daughter's college tuition - he believes that $500 would make this production run worth his while. His third and fourth priorities are not to have too much perishable inventory, so he wants to make sure he doesn't have too many bushels of corn on hand (third priority) nor does he want too many pounds of sugar on hand (fourth priority).