Indicate by letter whether each item below would appear on the income statement (IS), balance sheet (BS), or statement of retained earnings (E). ________
a. Common Stock
________ b. Dividends
________ c. Wages Expense
________ d. Commissions Earned
________ e. Buildings
________ f. Accounts Payable
________ g. Utilities Expense
________ h. Beginning Retained Earnings
________ i. Accounts Receivable
________ j. Notes Payable
a. BS f. BS
b. E g. IS
c. IS h. E
d. IS i. BS
e. BS j. BS
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When implementing a new system, the costs associated with transferring data from one storage medium to another is an example of
a. a recurring cost b. a data conversion cost c. a systems design cost d. a programming cost
Answer the following statements true (T) or false (F)
1. Values are the principles an organization holds most important. 2. Strategies are the directions an organization will pursue with respect to strategic issues. 3. A characteristic of a good objective is that it is specific. 4. Once a strategic plan is written, it should be used to stimulate wider discussion throughout the organization. 5. Chief executive officers may not allow clients to read the strategic plan.
What do Levitt and March (1988) refer to as the process where an organization does something well, learns more about what they do until they become such experts that they can no longer see any limitations to their achievements?
a. The competency trap b. The success trap c. The money trap d. The mouse trap
Tommy's Family Furniture is looking for a new supplier for its armchairs. Tommy is primarily interested in only two criteria: price and name brand value. He considers the value of the name brand to be three times more important than price
Tommy has narrowed his choices to two suppliers. On a 10-point scale, he has assigned Amy's Armchairs a score of 8 on price and 5 on name brand value. He has assigned Annie's Armchairs a score of 3 on price and 6 on name brand value. Apply the factor weighting technique to help Tommy choose a new armchair supplier.