What are everyday social interactions among employees that transcend formal jobs and job interrelationships called?
A) Traditional structure
B) Informal organization
C) Networking opportunities
D) Production organization
E) Community structure
Answer: B
Explanation: B) The informal organization of a company includes the everyday social interactions among employees that go beyond the formal job-related interactions.
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What is the name for the balance sheet under international accounting standards?
a. Assets and Equity Attributable to Shareholders b. Statement of Financial Position c. Statement of Balance d. The Equitable Claims Statement
An auditor plans to examine a sample of 20 checks for countersignatures as prescribed by the entity's internal control procedures. One of the checks in the chosen sample of 20 cannot be found. The auditor should consider the reasons for this limitation and:
A. evaluate the results as if the sample size had been 19. B. treat the missing check in the same manner as the majority of the other 19 checks (i.e., countersigned or not). C. choose another check to replace the missing check in the sample. D. treat the missing check as a deviation for the purpose of evaluating the sample.
A group of shoe manufacturing firms purchases raw materials collectively from a single supplier to obtain better deals. This is an example of obtaining competitive advantage by ________.
A. locking in customers B. enhancing the products C. differentiating the industry D. creating a new service E. establishing alliances
If interest rates decline, bondholders will earn:
A. a lower rate of return on reinvested cash flows. B. a higher current yield. C. no capital gain on the bond's maturity. D. a lower coupon interest on the bond. E. a higher maturity value on the maturity date.