What are the distinctive features of adaptive corporate cultures?
What will be an ideal response?
Adaptive corporate cultures (1) are very supportive of managers and employees at all ranks who propose or help initiate useful change; (2) encourage and reward internal entrepreneurship on the part of individuals and groups; (3) seek out, support, and promote individuals who exercise initiative, spot opportunities for improvement, and display the skills to take advantage of them; and (4) are characterized by a willingness to change, proactive approach to identifying issues, an ongoing evaluation of the implications and options, and rapid movement toward workable solutions.
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Depreciation allocates the asset's cost to the periods of benefit in some systematic and rational way, and it attempts to track changes in the asset's fair value
Indicate whether the statement is true or false
Which of the following components of production are allocable as joint costs when a single manufacturing process produces several salable products?
a. direct material, direct labor, and overhead b. direct material and direct labor only c. direct labor and overhead only d. overhead and direct material only
On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.)
A. Debit Interest Expense, $720; credit Interest Payable, $720. B. Debit Interest Expense, $120; credit Interest Payable, $120. C. Debit Interest Payable, $120; credit Interest Expense, $120. D. No adjusting entry is required. E. Debit Interest Payable, $240; credit Interest Expense, $240.
An activity-based budgetary approach can be used to emphasize cost reduction and process management
Indicate whether the statement is true or false