Jurisdiction can be described as

a. the study of law.
b. the authority of a court to decide a particular type of case.
c. court cases involving the U.S. Constitution or a federal statute.
d. the burden of proof.


b

Business

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Of the three stages of organizational socialization, ______ takes place before the individual actually joins the organization.

A. anticipatory socialization B. change and acquisition phase C. context phase D. encounter phase

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Howard Lumber Company mistakenly classified a product cost as an expense that totaled $20,000. The company produced 2,000 units of product and sold 1,000 of them during the year. Management is paid a bonus equal to 2% of net income. In the year in which the mistake was made:

A. the company's net income was overstated. B. the company's income statement portrayed a more favorable position than actually existed. C. product costs were overstated. D. management bonuses were underpaid.

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A major drawback of Porter's five forces model is that it ignores the rivalry among firms in the industry.

Answer the following statement true (T) or false (F)

Business