Identify the seven signs that an organization is in danger of ethical collapse.
What will be an ideal response?
Sign 1: pressure to maintain numbers. Sign 2: fear and silence. Sign 3: young ‘Uns and
a bigger-than-life CEO. Sign 4: weak board. Sign 5: conflicts of Interest. Sign 6: innovation
like no other. Sign 7: goodness in some areas atones for evil in others.
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Greenway Company's balance sheet as of December 31, Year 1 is provided below:Greenway CompanyBalance SheetDecember 31, Year 1Assets? Cash$ 35,000 Accounts receivable 40,000 Inventory 25,000 Plant and equipment, net of depreciation 300,000Total assets$ 400,000??Liabilities and stockholders' equity? Accounts payable$ 30,000 Notes payable 50,000 Capital stock, no par 200,000 Retained earnings 120,000Total liabilities and stockholders' equity$ 400,000In anticipation of preparing the company's operating budget for the upcoming period, the company's accountant has gathered the following information:(a) December Year 1 sales were $220,000. Sales are expected to grow at a rate of 8% per month. Half of all sales
are for cash and half are on account.(b) Inventory purchases are expected to total $100,000 during January and the inventory account is expected to have a $28,000 balance at January 31, Year 2. All inventory purchases are on account.(c) Selling and administrative expenses for January Year 2 are budgeted at $60,000 (exclusive of depreciation) plus 10% of sales. Selling and administrative expenses are paid in cash. Depreciation is budgeted at $3,000 for the month.(d) The notes payable will be paid in January, Year 2. The amount due will be $50,500. The $500 represents interest expense for the month of January, Year 2.(e) The company expects to purchase a new machine during January Year 2 at a cost of $5,000. Required:Prepare a budgeted income statement for the month of January Year 2. Use the traditional income statement format and ignore income taxes. What will be an ideal response?
An exchange of value between two entities that yields a change in the accounting equation is called:
A. An external transaction. B. Net Income. C. Recordkeeping or bookkeeping. D. An asset. E. The accounting equation.
The tax benefit from depreciation expense is the depreciation amount multiplied by the tax rate
Indicate whether the statement is true or false
Which of the following statements regarding the concept of learning is not true?
A. Marketers have no effect on consumer learning. B. Reinforcement of the learning process occurs when the response reduces the need. C. Almost all consumer behavior is learned. D. Learning refers to the modification of behavior that occurs over time due to experiences and other external stimuli. E. Learning typically begins with a stimulus that encourages consumers to act to reduce a need or want.