Managers are the most frequently used source of performance information. Explain this statement.
What will be an ideal response?
Managers are the most frequently used source of performance information. It is usually safe to assume that supervisors have extensive knowledge of the job requirements and that they have had adequate opportunity to observe their employees-in other words, that they have the ability to rate their employees. In addition, because supervisors have something to gain from the employees' high performance and something to lose from low performance, they are motivated to make accurate ratings. Finally, feedback from supervisors is strongly related to performance and to employee perceptions of the accuracy of the appraisal if managers attempt to observe employee behavior or discuss performance issues in the feedback session.
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What is the correct presentation of the income statement?
A) Revenues - expenses + gains - losses = Net Income B) Revenues - expenses = Net income - losses + gains C) Revenues - losses - expenses + gains = Net Income D) Revenues + gains - losses - expenses = Net Income
Answer the following statements true (T) or false (F)
1) A merchandiser's statement of retained earnings looks exactly like that of a service business. 2) The balance sheet of a merchandiser looks the same as the balance sheet of a retailer, except merchandisers have the following additional current liability accounts: Estimated Returns Inventory and Refunds Payable. 3) The gross profit percentage measures the profitability of each sales dollar above the cost of goods sold. 4) A small increase in the gross profit percentage may indicate an important rise in income. 5) Gross profit percentage reflects a business's ability to raise selling prices.
The first step Kevin Salazar should take in preparing for the presentation is to:
A) revisit the discount schedule for educational purchasers B) review his notes from the previous presentation he made to the buyer C) renew his personal commitment to pursuing the sale D) research the competition on the Internet E) revise the standard PowerPoint presentation
The furthest time bucket from the current period lies in which time fence?
A. frozen B. slushy C. flexible D. constant