Define culture and list its characteristics as agreed by most scholars.
What will be an ideal response?
Culture can be defined as acquired knowledge that people use to interpret, experience, and generate social behavior. This knowledge forms values, creates attitudes, and influences behavior. Most scholars of culture would agree on the following characteristics of culture: (1) Learned?culture is not inherited or biologically based; it is acquired by learning and experience; (2) Shared?people as members of a group, organization, or society share culture; it is not specific to single individuals; (3) Transgenerational?culture is cumulative, passed down from one generation to the next; (4) Symbolic?culture is based on the human capacity to symbolize or use one thing to represent another; (5) Patterned?culture has structure and is integrated; a change in one part will bring changes in another; and (6) Adaptive?culture is based on the human capacity to change or adapt, as opposed to the more genetically driven adaptive process of animals.
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The journal entry a company uses to record fully funded pension rights for its salaried employees at the end of theyear is
a. debit Salary Expense; credit Cash b. debit Pension Expense; credit Unfunded Pension Liability c. debit Pension Expense; credit Unfunded Pension Liability and Cash d. debit Pension Expense; credit Cash
How is the premium or discount on held-to-maturity bond investments presented on the balance sheet?
A) as a part of the cost of the investment and amortized over a period not to exceed five years B) as a part of the cost of the investment and amortized over the remaining life of the bonds C) in a separate account that is reported separately from the bonds and amortized over a period not to exceed five years D) in a separate account that is reported separately from the investment account and not amortized
The most common form of marketing organization consists of ________ reporting to a marketing vice president who coordinates their activities
A) zonal managers B) functional specialists C) product managers D) area market specialists E) brand managers
What is the effect of the payment of an account payable on the current ratio and the quick ratio, respectively? (Assume the current ratio was 2.3 times and the quick ratio was 2.1 times before this transaction.)
A) Decrease in current ratio; no effect on quick ratio B) Increase in current ratio; increase in quick ratio C) No effect on current ratio; no effect on quick ratio D) Decrease in current ratio; decrease in quick ratio