Goods sold by an authorized dealer beyond the dealer's authorized territory or quantity are:
A) knockoff goods
B) gray market goods.
C) infringed goods.
D) None of the above
B
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Cunningham, a branch manager, is allowed a bonus of 10% of income after bonus and tax. If the tax rate is 30% and income before bonus and tax is $200,000, what is Mr. Cunningham's bonus?
A) $13,084 B) $14,000 C) $14,433 D) $20,000
The internal control significance of the excess materials requisition is that it
a. indicates the amount of material released to work centers b. identifies materials used in production that exceed the standard amount allowed c. indicates the standard quantities required for production d. documents the return to raw materials inventory of unused production materials
Answer the following statement(s) true (T) or false (F)
1. In today’s quickly changing work environment the close, or autocratic, style of leadership is never appropriate. 2. The first step in the control process is to set standards. 3. Controlling is concerned with making certain that plans are correctly implemented and are being achieved. 4. If you are a laissez-faire leader who empowers others through effective delegation, then you do not need to be involved in the control process. 5. Planning, organizing, staffing, directing, and controlling should be carried out in all firms, but are only truly necessary in large-sized firms.
Differentiate between operational plans and strategic plans.
A. Operational plans are made by top managers, while strategic plans are made by middle managers and supervisors. B. Operational plans are more specific and focus on a shorter time frame, while strategic plans focus on long-term goals for the organization. C. Operational plans specify the quality of goods or services the organization is to provide, while strategic plans specify how to achieve organizational goals. D. Operational plans develop objectives for the organization as a whole, while strategic plans develop objectives for a division, department, or work group.