Which of the following is true of corporate bylaws?
A. They only contain rules addressing how the corporation can interact with the government.
B. They are only adopted by the shareholders of the corporation.
C. They are not binding on the directors or shareholders of the corporation.
D. They do not have to be filed with any government official.
Answer: D
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Employees may focus only on the items that are being measured for ______ payments, ignoring other important tasks.
A. incentive B. variable C. group D. rate
Define corporate social responsibility and provide an example.
What will be an ideal response?
The objective of profit maximization
A) should be the only goal of an organization B) is an objective of financial accounting but not management accounting C) should be achieved through legal and ethical means D) should outweigh the goal of product quality
A job shop would be most likely to hold which type of inventory?
a. Finished goods b. Component parts c. Raw materials d. Work-in-process