Describe the criteria that effective control systems should meet.
What will be an ideal response?
Effective control systems maximize potential benefits and minimize dysfunctional behaviors. To achieve this, management needs to design control systems that meet several criteria:
• The systems are based on valid performance standards.
• They communicate adequate information to employees.
• They are acceptable to employees.
• They use multiple approaches.
• They recognize the relationship between empowerment and control.
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Which of the following is an example of having indirect involvement when entering a competitive market?
A) using retail stores B) using distributors C) using manufacturer's own sales force D) selling through company website
Which of the following statements is true of liabilities?
a. Accounts payable are listed in the current liabilities section in alphabetical order by vendor. b. Classification of current liabilities is important because of the liquidity concept. c. Current liabilities are listed in order of decreasing amounts in the current liability section of the balance sheet. d. The accounting principles followed in the U.S. differ from those of other countries; this is especially true for current liabilities.
During January of Year 1, Sports World experienced the following business events. The company uses the perpetual inventory system. 1) Jan 3. Purchased $10,000 of merchandise from a supplier, Apex Athletic Shoes. The terms of the purchase: 2/10, n/30 and FOB shipping point.2) Jan 5. Paid $275 cash for freight to trucking company to have goods shipped from Apex.3) Jan 7:(a) Sold merchandise for $1,500 to a customer on account. (b) The merchandise had cost Sports World $900.4) Jan 10. Returned $1,100 of defective shoes to Apex. 5) Jan. 11: (a) Recorded the cash discount on the goods purchased in Event 1(b) Paid amount due on account to Apex for merchandise purchased on Jan. 3.6) Jan. 12: (a) Accepted a return of $375 of the goods sold on Jan. 7. (b) The cost of these goods was
$225.Required:Record the events in general journal format. What will be an ideal response?
The first three steps of the integrative negotiation process are important for ________; value and the fourth step of the process involves ________ value.
Fill in the blank(s) with the appropriate word(s).