Under the doctrine of ______, a corporation is ______ to third persons for the tortious acts of its officers, employees, and agents to the same extent that a natural person is liable for the acts of agents and employees
A) respondeat superior, not civilly liable
B) business judgment, criminally liable
C) business judgment rule, civilly liable
D) respondeat superior, civilly liable
D
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Because Greg and Karen were having an argument about the order of their respective projects on the website, they were unable to work with the rest of the management team to come up with a staffing schedule. This is an example of what potential problem that occurs in groups?
A. Goal displacement B. Satisficing C. Groupthink D. Heuristics E. Availability bias
Answer the following statements true (T) or false (F)
1. Convergence can lead to negative communication experiences such as feeling easily distracted and overcommitted. 2. In the Communication Age, we maintain both a bodily and digital existence. 3. Multitasking allows us to be free from distractions and the feeling that we are spread too thin. 4. The ability to access information and people “on demand” helps us avoid social problems. 5. According to employers, communication skills are the most valuable skills employees can possess.
The financial staff at Safe-Life Systems, Inc., an alarm systems manufacturer, has estimated the following sales and other expense figures for the second half of 2017:
1. Actual sales in June 2017 were $105,000. The firm sells 60% on cash, it collects 39% of the remainder one month after the sale, and 1% are written off as bad debts. Purchases are estimated to represent 55% of the next month’s sales. The firm pays 40% of its purchases in cash and the remainder during the following month. Commissions to sales associates represent 15% of collectable sales, but the firm has decided to include a bonus of 5% more if the sales of the current month are higher than the previous one. Each of the two partners is paid 20% of the average total sales of the previous and current month, plus a 5% bonus if the sales of the current month are higher than the previous one. Monthly wages, rent, and lease expenses are $5,000, $3,000, and $1,500, respectively. The firm has an ending cash balance of $25,000 in June 2017.
a) Create a cash budget for July to December 2017, and determine the firm’s ending cash balance in each month if the firm has a required minimum monthly cash balance of $25,000.
b) The partners are considering a line of credit from a commercial bank. Determine the amount that would be necessary to meet the total borrowing needs for July to December 2017. Round the result to the next highest $10,000.
c) Consider three scenarios. In the first scenario, monthly revenues are 5% better than expected, but cash sales are 40% of forecasted revenue, while credit sales are 58% and 2% are written off as bad debts. In the second scenario, sales are exactly as expected and the original collection policy is implemented. In the last scenario, sales are 5% worse than expected, but cash sales are 70% of forecasted revenue, while credit sales account for the remaining 30% with no bad debts. Use the Scenario Manager to determine the amount that the firm would need to borrow to maintain its minimum cash balance in all three scenarios.
The absorption costing income statement does not distinguish between ________ and ________
a. cost of goods sold; gross profit b. income from operations; gross profit c. variable; fixed costs d. fixed manufacturing; fixed costs