The Transportation Division of the GE Corporation is located in a small city that has limited economic growth at this time. Due to the condition of the local school system, GE contributed $2 million to repair and revive it, stating that GE believed in education for the community. This action would imply that GE is in which level of the pyramid of social responsibility?
A. Ethical
B. Legal
C. Cost
D. Philanthropic
E. Economic
Answer: D
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Which of the following statements regarding goodwill is false?
A) Goodwill is never amortized for financial reporting purposes. B) A company must review its goodwill for impairment annually. C) A company must review its goodwill for impairment whenever events or changes in circumstances occur that would more likely than not reduce the fair value below its carrying value. D) A company records goodwill at the time that it acquires another company or at the time it determines that material intellectual capital exists in its employees.
The entry to replenish the petty cash fund for $250 of various minor expenses would include a
A) debit to Petty Cash for $250. B) debit to Cash for $250. C) credit to Petty Cash for $250. D) credit to Cash for $250.
Which of the following is most likely to improve one's self-concept?
A. Rejecting failure B. Tapping into one's spirituality C. Avoiding taking risks D. Comparing oneself to others
2. Good customer service flows from the managers (top) to the workers (down), who then bring that service to their customers (inside–outside)
Indicate whether the statement is true or false.