Answer the following statements true (T) or false (F)
1. To be self-motivated, you need to have a positive attitude about yourself and your job.
2. With two-factor theory, maintenance needs are primarily met non-financially and motivators are met financially.
3. Both praise and criticism work equally well in motivating employees.
4. The giving praise model is a five-step process that begins with telling the employee what they did correctly and ends with encouraging repeat performance.
5. Collective societies include Japan, Mexico, Singapore, and Venezuela.
1. True
2. False
3. False
4. False
5. True
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Which of the following is not a purpose of the management representation letter?
a. It reminds management of its responsibility for the financial statements. b. It confirms oral responses obtained by the auditor earlier in the audit and the continuing appropriateness of those responses. c. It decreases the possibility of misunderstanding concerning the matters that are the subject of the representations. d. It implies that the auditor is responsible for the design of the internal controls.
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable$375,000debitAllowance for uncollectible accounts 500debitNet Sales 800,000credit All sales are made on credit. Based on past experience, the company estimates that 0.6% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
A. $5,500 B. $1,275 C. $1,775 D. $4,500 E. $4,800
Accrual accounting attempts to solve which income measurement issue?
a. Periodicity issue b. Matching issue c. Recognition issue
The mathematical expression for the Poisson distribution is shown as P(x) = e-??x/x! The term x stands for ______.
a. probability of arrivals b. number of arrivals per unit of time c. expected or average arrival rate d. total arrival time