Skill-based plans are generally not well accepted by employees because it is difficult to see the connection between the plan, the work, and the size of the paycheque.
Answer the following statement true (T) or false (F)
False
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FASB has set forth all of the following conditions for recognizing transfers of receivables as sales only if the following conditions of surrendering control of the receivables are met except:
a. The assets transferred have been isolated from the selling firm. b. The buying firm obtains the right to pledge or exchange the transferred assets, and no condition both constrains the transferee from taking advantage of its right and provides more than a trivial benefit to the transferor. c. The selling firm does not maintain effective control over the assets transferred through (a) an agreement that both entitles and obligates it to repurchase the assets or (b) the ability to unilaterally cause the transferee to return specific assets. d. A creditor of the selling firm can access the receivables in the event of the seller's bankruptcy.
Identify a disadvantage of piece rate plans
a. They do not provide extra recognition for producing above the minimum requirements. b. Productivity is not an important factor of such plans. c. They are not appropriate if machines, rather than people, control production speed. d. They are not suitable if the company gives a high priority to the quantity produced by each worker.
From the perspective of ______________, compensation would focus on the consequences of the greatest good to the greatest number of people.
a. Ethical egoism b. Deontological ethics c. Utilitarianism d. Sidgwick’s dualism
The responsibility for the fixed overhead volume variance should be assigned to:
a. the purchasing manager. b. the production manager. c. the human resource manager. d. the CEO. e. None of the answers are correct.