Explain the differences between team mental models and transactive memory.
What will be an ideal response?
Team mental model is knowledge about how to operate as a team to complete a task, and is related to type of task, not specific members of the team. Transactive memory is awareness of the knowledge possessed by members of the team. Team mental model is the shared or common memory of the team – all members are on the same page. Transactive memory is distributed among team members rather than shared by the team as a whole.
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When all followers are in the in-group, ______.
a. there is no one left to trust b. only tangible exchanges take place c. it is impossible to get anything done d. this is the ideal situation
IFRS specifies that, in the context of inventories, market means
a. replacement cost, only. b. net realizable value, only. c. replacement cost, except that market may not exceed net realizable value and may not be less than net realizable value reduced by a normal profit margin. d. replacement cost, except that market may not exceed net realizable value and may not be less than present value of future cash flows. e. replacement cost, except that market may not exceed net realizable value and may not be less than the total amount of undiscounted future cash flows.
Cumberland Co sells $1,200 of inventory to Hancock Cofor cash. Cumberland paid $850 for the merchandise. Under a perpetual inventory system, which of the following journal entry(ies) would be recorded?
A) Cash 1,200 Dr, Merchandise Inventory 850 Cr B) Cash 1,200 Dr, Sales 1,200 Cr, Cost of Merchandise Sold 850 Dr, Merchandise Inventory 850 Cr. C) Cash 1,200 Dr, Sales 1,200 Cr D) Accounts Receivable 1,200 Dr, Sales 1,200 Cr, Cost of Merchandise Sold 850 Dr, Merchandise Inventory 850 Cr.
Title to goods may pass from the seller to the buyer before the goods are identified to the sales
contract. Indicate whether the statement is true or false