Every year there is the annual awarding of the coveted “Salesperson of the Year Award,” which recognizes and rewards outstanding work. Owen and Hazel are neck and neck and are working extra hard to win this year’s award. This is an example of which organizational culture artifact?
a. Story
b. Ritual
c. Ceremony
d. Symbol
c. Ceremony
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Yankton Company began the year without an investment portfolio. During the year, it purchased investments classified as available-for-sale securities at a cost of $13,000 . At the end of the year, the market value of the securities was $11,000 . The Yankton Company's financial statements for the current year should show
a. a loss of $2,000 on the income statement and available-for-sale investments of $13,000 on the balance sheet b. no loss on the income statement and available-for-sale investments of $13,000 on the balance sheet c. no loss on the income statement, available-for-sale investments netting to of $11,000, and an unrealized loss of $2,000 as a stockholders' equity adjustment on the balance sheet d. a loss of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet
Consumers can use a national company called Service Magic to receive bids from quality providers of a variety of services, including home remodel, landscaping, plumbing, and housecleaning. Service Magic charges service providers for the leads it provides to them monthly. Which of the following is the source of Service Magic's strategic position?
A. Low-profit margin and many customers. B. Broad needs and few customers. C. Broad needs and many customers. D. High-profit margin and many customers. E. High-profit margin and few customers.
Which of the following errors will not cause the debit and credit columns of a trial balance to be unequal?
a. A debit was posted to an account as a credit. b. A journal entry was posted twice. c. The trial balance was incorrectly summed. d. Only part of a journal entry was posted.
Revenue should be recognized, even when collectibility is not reasonably assured
Indicate whether the statement is true or false