Firms are more capable than markets at coordinating highly complex tasks, while markets are more capable of providing high-powered incentives for entrepreneurship.
Answer the following statement true (T) or false (F)
True
Firms and markets, as different institutional arrangements for organizing economic activity, have their own distinct advantages and disadvantages. The advantages of a firm include the ability to make command-and-control decisions and coordinate highly complex tasks, while the advantages of the market include high-powered incentives and increased flexibility.
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Which of the following principles states that a business should not report anticipated gains?
A) conservatism B) materiality concept C) disclosure D) consistency
Operating leases are economically similar to purchasing assets with funds obtained from issuing long-term bonds and result in similar accounting
Indicate whether the statement is true or false
The organizational culture norm of how widely shared norms are held across people in the organization is known as ______.
A. the content B. the consensus C. the intensity D. the artifact
The ______ refers to the invisible barriers to advancement in business to women and minority employees.
A. sticky floor B. ceiling fan C. escalator D. glass ceiling