Answer the following statement(s) true (T) or false (F)
1. Both the formal organization and the informal organization are displayed on the organizational chart.
2. Informal organizations exist in every business.
3. A formal organization is represented in the company’s organization chart.
4. A formal organization is seen as the human side of the company.
5. An organizational chart shows authority, responsibility, whom subordinates report to, and exact communication patterns.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
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Under the doctrine of cy pres, when the settler has not specifically provided for a substitute beneficiary, the:
A. trust will automatically fail. B. court will direct the application of the property to some charitable purpose that falls within the settlor's general charitable intention. C. original beneficiaries can use the property for a charitable purpose. D. court will direct that the property be handed over to the government for administrative purposes.
Prepare general journal entries for the following transactions of Norman Company, assuming they use the allowance method to account for uncollectible accounts. Apr 01Sold $3,500 of merchandise to Lance Co., receiving an 8%, 90-day, $3,500 note. 15Wrote off $1,500 owed by Guy Co. from a previous period sale. 30Received a $5,000, 6%, 30-day note receivable from James Co. as settlement for its $5,000 account receivable.May 30The note received from James on April 30 was collected in full.Jun 30Lance Co. was unable to pay the note on the due date.Jul 15Guy Co. paid $1,000 of the amount written off on April 15.
What will be an ideal response?
________ are written offers to solve problems, provide services, or sell equipment
Fill in the blank(s) with correct word
Vertical channel integration
A. results in two or more different management teams for each member of the channel. B. is made possible when a large corporation divests itself of smaller subsidiaries. C. is a shift back to the conventional channel of distribution. D. combines institutions at the same level of operation. E. is made possible by purchasing the operations of a link in the channel.