Taylie, Sudhir, and Paige are working together on a team. Each member is from a different culture and brings a different perspective on the work to the task. However, the group struggles with conflict to the point that creativity is stifled and the team’s work becomes very difficult to accomplish. The team is experiencing ______.
A. illegal discrimination
B. divergent thinking
C. dysfunctional conflict
D. compensatory damages
C. dysfunctional conflict
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As part of the initial investment, Jackson contributes accounts receivable that had a balance of $22,500 in the accounts of a sole proprietorship. Of this amount, $3,000 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $1,500 . The amount debited to Accounts Receivable for the new partnership is
a. $18,000 b. $22,500 c. $21,000 d. $19,500
Civil suits are usually quite rare in cases of employee fraud because:
a. there is usually not enough evidence to prosecute. b. employee fraud is a victimless crime. c. it is difficult for a jury to unanimously decide on a conviction. d. perpetrators have usually spent the money.
Which of the following is not true concerning the FASB and the IASB conceptual frameworks?
a. Both the FASB and the IASB rely on a conceptual framework to guide their standard-setting decisions. b. The conceptual framework is not a rigorous set of principles from which standard setters can logically deduce appropriate financial reporting standards. c. The purpose of a conceptual framework is to guide standard-setting decisions in order to enhance the quality and consistency of those decisions. d. The FASB and the IASB have separately developed their conceptual frameworks, and those frameworks are very different. e. The two standard-setting bodies are currently working to develop a common conceptual framework for financial reporting.
Which of the following is one of the leading indicators of concentrated ownership?
A. Family ownership B. Government regulation C. CEO Duality D. Sector size