Google and EasyJet are for-profit enterprises, but neither emphasises owners’ interests in their mission and vision statements. To what extent do you regard this as (a) deliberate or (b) an oversight? Explain your view.
What will be an ideal response?
The owners of these and many other consumer-oriented enterprises usually subscribe to the
marketing philosophy that ‘consistently to meet and ideally exceed our clients’ needs and
expectations is the best way to serve our own.’ Thus it is unnecessary to stress owners’ interests.
More cynically, it may be that executives believe that to declare self interest merely reinforces
perceptions of exploitation that may exist. Either way, little is apparently gained by such
declarations. So omission is probably deliberate.
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A company borrows $40,000 and issues a 3-year, 10% installment note with interest payable annually. The factor for the present value of an annuity at 10% for 3 years is 2.4869. The factor for the present value of a single sum at 10% for 3 years is 0.7513. The amount of the annual interest payment is $16,084.28.
Answer the following statement true (T) or false (F)
Berk Incorporated makes a single product--a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below:?Budgeted (Planned) Overhead:???Budgeted variable manufacturing overhead$84,075??Budgeted fixed manufacturing overhead$221,730??????Budgeted production (a)15,000 units?Standard hours per unit (b)1.90 machine-hours?Budgeted hours (a) × (b)28,500 machine-hours?????Applying Overhead:???Actual production (a)13,000 units?Standard hours per unit (b)1.90 machine-hours?Standard hours allowed for the actual production (a) ×
(b)24,700 machine-hours?????Actual Overhead and Hours:???Actual variable manufacturing overhead$77,675??Actual fixed manufacturing overhead$237,730??Actual hours23,900 machine-hoursRequired:a. Compute the variable component of the company's predetermined overhead rate.b. Compute the fixed component of the company's predetermined overhead rate.c. Determine the variable overhead rate variance for the year.d. Determine the variable overhead efficiency variance for the year.e. Determine the fixed overhead budget variance for the year.f. Determine the fixed overhead volume variance for the year. What will be an ideal response?
When speaking on your cell phone, maintain at least 20 feet between you and the nearest person. _________________________
Answer the following statement true (T) or false (F)
A gratuitous agency is an agency that is ________
a. created without an agent's right to compensation b. created without a power of attorney c. created without a principal's formal authorities d. created by an estoppel