Four factors help explain the extent to which employees and managers will be able to obtain a proportionately high level of the profits that they generate. Which is not one of these factors?
A. competitor bargaining power
B. employee replacement cost
C. employee bargaining power
D. employee exit costs
Answer: A
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Which of the following elements is not part of the fraud triangle?
a. Vices b. Pressures c. Opportunities d. Rationalizations
Mahoe Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$105,000 $190,000 Accounts receivable, net 255,000 220,000 Inventory 206,000 200,000 Prepaid expenses 44,000 50,000 Total current assets 610,000 660,000 Plant and equipment, net 1,065,000 970,000 Total assets$ 1,675,000 $ 1,630,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$119,000 $110,000 Accrued liabilities 88,000 80,000 Notes payable, short term 53,000 50,000 Total current liabilities 260,000 240,000 Bonds payable 110,000 110,000 Total liabilities 370,000 350,000 Stockholders'
equity: Common stock, $5 par value 250,000 250,000 Additional paid-in capital 70,000 70,000 Retained earnings 985,000 960,000 Total stockholders' equity 1,305,000 1,280,000 Total liabilities & stockholders' equity$ 1,675,000 $ 1,630,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,330,000 Cost of goods sold 890,000 Gross margin 440,000 Operating expenses 393,571 Net operating income 46,429 Interest expense 10,000 Net income before taxes 36,429 Income taxes (30%) 10,929 Net income$ 25,500 Dividends on common stock during Year 2 totaled $500. The market price of common stock at the end of Year 2 was $8.06 per share.The company's total asset turnover for Year 2 is closest to: A. 6.57 B. 0.15 C. 0.80 D. 1.25
The Wilson Company purchased $44,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,000 for freight costs to have the goods shipped to its location. The company uses the perpetual inventory system. Which of the following summarizes the effects of the journal entries required to record these transactions for The Wilson Company? (Consider the effects of both business events.)
A. Total debits to the inventory account would be $41,000. B. Total debits to the inventory account would be $47,000. C. Total debits to the inventory account would be $44,000. D. Transportation-in would be debited for $3,000.
New knowledge involves the continual interaction between ________ and ________ knowledge.
A. detailed; tacit B. tacit; explicit C. intellectual; pragmatic D. theoretical; practical