Within the context of systems theory, describe the relationship between the organization and society.
What will be an ideal response?
According to systems theory, an organization is an element of a larger system, the environment.
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What is the operating income using variable costing?
Barrett, Inc. reports the following information for the year ended December 31:
The beginning Finished Goods Inventory costs were $3500 under absorption costing and $2800 under variable costing.
A) $38,640
B) $40,200
C) $9840
D) $2340
Carter Company has a return on assets of 12% and a return on common stockholders' equity of 15%. What causes the difference in the two returns?
Monic, a college professor, makes 30 photocopies of a magazine article and passes the article out to her students. The students are assigned to read the article and write an opinion paper about it. Has Monic violated copyright law?
a. Yes. Though the author will probably not enforce his or her rights under this situation, Monic has technically violated federal copyright law. b. Yes. Though educators have a right under the "fair use doctrine" to make limited use of copyrighted materials, Monic violated the law when she made photocopies of an entire article and distributed them to her students. c. No. Monic has acted within the fair use doctrine. d. No, as up to 50 photocopies of articles are always permissible.
Which of the following checks does not guarantee payment?
A) A personal check with a restrictive endorsement B) A certified check C) A cashier's check D) A traveler's check