Answer the following statements true (T) or false (F)
1. A team is distinct from a group in that within teams, members share leadership responsibility.
2. Presentations are the central form of team communication.
3. Meetings should be kept at the same time of day and time each week in order to develop a routine schedule for employees.
4. A well-constructed agenda should indicate the topics to be covered, the length of time allotted to each topic, the person 5. responsible for reporting on each topic, and the time allotted for new business.
5. Once meetings are set, they need to take place even if one or more participants cannot attend.
1. True
2. False
3. False
4. True
5. False
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Select the statement that might represent a valid objection to worker participation in management decisions.
A. Any attempt to involve employees in decision making will be inefficient. B. Substantial conflicts that exist between the interests of the firm and the interests of the employees are more likely to occur than similar conflicts between the interests of managers and the interests of the firm. C. Private owners have property rights that include the right to manage and direct the business. D. Workers lack the expertise and knowledge to manage a business.
An accountant is responsible for the following activities: (1 ) receiving all cash; (2 ) maintaining the general ledger; (3 ) maintaining the accounts receivable subsidiary ledger that includes the individual records of each customer; (4 ) maintaining
the journals for recording sales, purchases, and cash receipts; and (5 ) preparing monthly statements to be sent to customers. As a service to customers and employees, the company allows the accountant to cash checks of up to $75 with money from the cash receipts. When deposits are made, the checks are included in place of the cash receipts. What weaknesses in internal control exist in this system?
Identify the method that distributes service department costs only to production departments
a. Step-up method b. Direct production method c. Direct distribution method d. Sequential distribution method
Which of the following generally indicates a positive change?
A) Earnings per share decreases B) The debt to total assets ratio increases C) The acid test ratio decreases D) The return on equity increases