What does chaebol mean? What has been the history of chaebol?
What will be an ideal response?
A chaebol is a family of interrelated firms in South Korea. To promote economic development after the Korean War, South Korea relied on tight cooperation between the government and 30 or so large, privately owned, and family-centered conglomerates that dominate the Korean economy. The most important of these conglomerates, or chaebol, were Samsung, Hyundai, Daewoo Group, and LG (formerly Lucky-Goldstar). Unfortunately, Korea's growth came to a screeching halt as a result of the 1997-1998 Asian currency crisis, and many of the chaebol were plunged into financial difficulties. Many observers argued that their problems were due to overexpansion and the poor lending practices of Korean banks. Many of the chaebol seemed to be more interested in size than profitability and borrowed money to enter industries already burdened by overcapacity, such as automobiles, computer chips, and steel manufacturing. Some of the chaebol learned their lesson and emerged from the crisis as stronger and leaner competitors.
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One of the elements in the computation of economic order quantity is the cost of not carrying sufficient inventory
Indicate whether the statement is true or false
When revenue is earned before the receipt of cash, an adjustment that increases a receivable and decreases a liability account is recorded
a. True b. False Indicate whether the statement is true or false
Which of the following is not true?
a. The complexities of ABC have caused many firms to pursue value stream accounting. b. Value stream accounting captures costs related to value added activities within a specified department or activity. c. An essential aspect in implementing value stream accounting is defining the product family. d. Value stream accounting makes no distinction between direct costs and indirect costs.
What are the elements of organizational structure?
What will be an ideal response?