In Trompenaars’ dimensions of value orientations, ______ is a belief that what is true and good can be discovered and applied universally, while ______ is a belief that unique circumstances determine what is right or good.
What will be an ideal response?
Universalism, particularism
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If the expected deviation rate exceeds the tolerable deviation rate, the auditor is most likely to:
A. set control risk at the minimum without sampling. B. set control risk at the maximum without sampling. C. have a large sample size. D. pick a lower risk of assessing control risk too low to increase sample size.
In the process of liquidation, a partnership firm sells its non-cash assets with a book value of $55,000, for $73,000. Which of the following will be included in the entry to record the sale of assets at liquidation?
A) Gain on Disposal will be credited by $73,000. B) Gain on Disposal will be debited by $73,000. C) Gain on Disposal will be credited by $18,000. D) Gain on Disposal will be debited by $18,000.
Reneging refers to customers who:
A) do not join a queue B) switch queues C) join a queue but abandon their shopping carts before checking out D) join a queue but are dissatisfied E) join a queue and complain because of long lines
Which of the following is the stage in the operations consulting process that immediately follows "assure client satisfaction"?
A. Present final report B. Present invoice C. Design, develop, and test alternative solutions D. Assure client satisfaction E. Assemble learnings from the study