Refer to Table 5-1. The Steel Shelf Company has to produce ________ shelves on an annual basis
to break even.
A) 500
B) 13,560
C) 6,960
D) 6,000
E) Cannot calculate with information that is provided.
D
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A useful guideline in designing strategy-facilitating policies and operating procedures is
A. to prescribe enough policies to give organizational members clear direction in implementing strategy and to place desirable boundaries on their actions, then empower them to act within these boundaries however they think makes sense. B. that strictly enforced policies work better than loosely enforced policies. C. to let individuals act in an empowered and self-directed way, subject only to the constraint that their actions and behavior be ethical and in step with the corporate culture. D. to prescribe enough policies and procedures that little is left to chance in performing value chain activities; employees should have no leeway to do things in a manner that deviates from the company's best practices standard. E. that more policies/procedures work better than few policies/procedures and that strict enforcement always beats lax enforcement.
Which of the following is true of budgets?
A) Every budget must contain both revenues and expenses. B) Budgets reduce the comparability concept of accounting. C) The data in budgets are presented in dollars only; nonfinancial data should be excluded. D) Budgets are synonymous with managing an organization.
On December 31, 2016, Axle Services, Inc
prepared the following accrual adjustment: Salaries Expense 1,000 Salaries Payable 1,000 The company paid salaries amounting to $1,500 on January 7, 2017 for the two-week pay period that ended on January 6, 2017. Journalize the entries for January 1, 2017 and January 7, 2017, assuming the company uses reversing entries. What will be an ideal response
A promise to make a gift is enforceable
Indicate whether the statement is true or false