Thinking of an organization in terms of its suborganizations or subsystems is called _____.
A. organizational thinking
B. organizational validating
C. systems thinking
D. systems validating
Answer: C
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Marketing goods that are currently in short supply would require significant marketing talent
Indicate whether the statement is true or false
Ruby and Anita are partners. Ruby has a capital balance of $270,000 and Anita has a capital balance of $180,000. Denis contributes a building with a current market value of $170,000 to acquire an interest in the new partnership. Which of the following is TRUE of the journal entry to record this transaction? (Assume no bonus to any partner.)
A) Building will be debited for $170,000, Ruby, Capital and Anita, Capital will be credited for $85,000 each. B) Building will be debited for $170,000 and Denis, Capital will be credited for $170,000. C) Ruby, Capital and Anita, Capital will be debited for $85,000 each and Denis, Capital will be credited for $170,000. D) Ruby, Capital and Anita, Capital will be credited for $85,000 each and Denis, Capital will be debited for $170,000.
Inventory turnover is expressed in terms of
A) days. B) a percentage. C) dollars. D) times.
Where a partnership agreement provides for the sharing of profits but is silent as to how losses are to be shared, ________.
A. losses are shared in the same proportion as profits B. losses are shared in greater proportion than profits C. profits are shared in greater proportion than losses D. losses are absorbed by the partnership entity rather than borne by the individual partners