Which of the following is true concerning the three managerial skills?
A. Technical skills tend to be most important for middle-level managers.
B. Conceptual skills are most important for lower-level managers.
C. Human skills remain equally important to all levels of management.
D. Technical skills increase and conceptual skills decrease in importance as a manager climbs the organizational chart.
Answer: C
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Answer the following statements true (T) or false (F)
1. In a standard costing system, each input of direct materials, direct labor, and manufacturing overhead has a cost standard and an efficiency standard. 2. A standard cost system helps management set performance standards. 3. A favorable direct materials cost variance occurs when the actual direct materials cost incurred is less than the standard direct materials cost. 4. A favorable direct materials cost variance occurs when the actual direct materials cost incurred is greater than the standard direct materials cost. 5) Favorable and unfavorable variances are netted together in the same way debits and credits are.
When a Statement on Auditing Standards uses the word "should" relating to a requirement, it means that the auditor:
A. Should consider whether to follow the advice based on the exercise of professional judgment in the circumstances. B. Must comply with requirements unless the auditor demonstrates and documents that alternative actions are sufficient to achieve the objectives of the standards. C. Must fulfill the responsibilities under all circumstances. D. May choose to change responsibilities relating to various professional standards that remain under consideration.
A 90-day, 12% note for $20,000, dated April 10, is received from a customer on account. If the note is discounted at 15% on May 20, the days in the discount period are
A) 50 B) 90 C) 120 D) 40
Team player Tessie plays the anonymous praise game when she
A) sends a tweet under her own name complimenting the team leader. B) lists what she likes about other team members without identifying them. C) writes a list of things she likes about a specific teammate. D) writes a list of thing she likes about herself.