In the context of a firm's vertical structure, a powerful trend for U.S. businesses over the past few decades has been to
A. reduce the number of hierarchical layers.
B. limit decision-making authority to top management.
C. increase the number of reporting levels.
D. replace flat organizational structures with tall organizational structures.
E. increase formalization.
Answer: A
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On March 15, Alan Company purchased 10% of Cameo Corp.'s stock for $35,000. This is the company's first and only stock investment. On Alan's June 30 year-end, the stock had a fair value of $34,000. Alan should do which of the following:
A. Record a debit to the Fair Value Adjustment-Stock account. B. Report a decrease in the Gain on Sale of Investment income statement account. C. Record a debit to the Unrealized Loss-Income account. D. Record a credit to the Unrealized Gain-Income account. E. Report an increase in the asset section of the balance sheet.
In a control matrix, the coding M-1 means:
A. a major control plan B. a missing control plan C. process 1 is missing D. none of the choices are correct
Section II of the homeowner's insurance contract covers
a. libel. b. contractual wrongdoing. c. the house and contents. d. liability of the insured. e. none of these.
Joint Venture resembles a _____________ and is taxed like a partnership. Most courts apply the same principles to joint ventures as partnerships. Owe each other fiduciary duties.
Fill in the blank(s) with the appropriate word(s).