Compare and contrast democracy in unions with democracy in corporations.
What will be an ideal response?
Unions are more democratic organizations than corporations. Union leaders are elected by union members while, by contrast, organizational leaders are appointed by those in power. Union members are guaranteed the right to express their opinions either verbally or by vote while, in corporations, employees may (or may not) be granted the privilege of expressing their opinions by those in authority. Conceptually, labor unions are bottom-up organizations that serve the interests of its members while corporations are top-down organizations that serve the interests of corporate owners. Finally, in unions major decisions such as whether to strike or approve a contract are made by majority vote of the members while, in corporations, major decisions are made unilaterally by those in authority.
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According to the expense recognition principle, inventory costs are expensed as cost of goods sold when inventory is sold.
Answer the following statement true (T) or false (F)
Marcoff Corporation acquires 30% of the outstanding voting common shares of the Invicta Corporation for $600,000 . Marcoff Corporation acquires the investment in Invicta Corporation by buying previously issued shares of Invicta Corporation from other investors. If Invicta Corporation declares and pays a dividend of $30,000 to holders of its common stock, Marcoff Corporation records the following
journal entry: a. Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 Investment in Stock of Invicta Corporation . . . . . . . . . . . . . . . . . . 9,000 b. Investment in Stock of Invicta Corporation . . . . . . . . . . . . . . . 9,000 Equity in Earnings of Affiliate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 c. Equity in Earnings of Affiliate . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 Investment in Stock of Invicta Corporation . . . . . . . . . . . . . . . . . 9,000 d. Investment in Stock of Invicta Corporation . . . . . . . . . . . . . . . 9,000 Investment Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000 e. Investment in Stock of Invicta Corporation . . . . . . . . . . . . . . . 9,000 Investment Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000
Which one of the following is NOT a criterion that a core competence must fulfil?
a. The competency must be developed by the senior management of the organization b. The competency must provide potential access to a wide variety of markets c. The competency must make a significant contribution to an organization achieving its goals d. The competency must be difficult to imitate
Peters and Waterman’s book was entitled In Search of ______.
a. Wisdom b. Nirvana c. Excellence d. The Holy Grail