Many technology companies are hesitant to involve customers in the development of their products, since they are trying to protect their latest products and ideas from competitors' attempts to replicate them. This typically results in a fairly ______ system.
A. responsive
B. closed
C. distinctive
D. stable
E. intelligent
B. closed
A closed system has little interaction with its environment; that is, it receives very little feedback from the outside.
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Which term is defined as the degree to which team members connect with each other?
A. cohesion B. connection C. norms D. bond
On January 1, a company purchased machinery for $75,000 that had a 6-year useful life and a salvage value of $6,000. After three years of straight-line depreciation, the company paid $8,500 cash at the beginning of the year to improve the efficiency of the machinery. The productivity of the machinery was improved without increasing its remaining useful life or changing its salvage value. Straight-line depreciation is used throughout the machinery's life.1. Prepare the journal entry to record the $8,500 expenditure.2. Prepare the journal entry to record depreciation expense for the fourth year.
What will be an ideal response?
Which of the following assets are subject to an annual impairment evaluation?
a. Intangible assets b. Goodwill c. All long-term assets d. All short-term assets
Lilly's Corporation has working capital of $620,000, and Harmon Corporation has working capital of $840,000. Which of the following statements is incorrect?
A. If Lilly Corporation is smaller than Harmon or has lower current liabilities; Lilly could be more liquid than Harmon. B. Since working capital is an absolute amount, other factors such as size of the company and materiality will help to determine liquidity of these two companies. C. Since Harmon's working capital exceeds Lilly's working capital, it is safe to conclude that Harmon is more liquid than Lilly. D. None of these answers is correct.