The argument that a strong organizational culture leads to superior organizational performance was originally articulated by ___________.
a. Karl Marx
b. Kono and Clegg
c. Peters and Waterman
d. Terence and Patrick
c. Peters and Waterman
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Concerning purchase discounts, which one of the following statements is true?
A) Purchase discounts taken should be deducted from the acquisition cost of the inventory. B) The net price method results in recording accounts payable at the maximum value of the liability that the company may be required to pay out. C) Purchase discounts lost should be included in the cost of inventory. D) An advantage of the gross price method is that it isolates purchase discounts lost and thus highlights inefficiencies.
How can one avoid culture shock?
What will be an ideal response?
Production estimates for July are as follows: Estimated inventory (units), July 1 8,500 Desired inventory (units), July 31 10,500 Expected sales volume (units), July 76,000 For each unit produced, the direct materials requirements are as follows: Direct material A ($5 per lb.) 3 lbs. Direct material B ($18 per lb.) 1/2 lb. The number of pounds of materials A and B required for July production is:
A) 216,000 lbs. of A; 36,000 lbs. of B B) 216,000 lbs. of A; 72,000 lbs. of B C) 234,000 lbs. of A; 39,000 lbs. of B D) 225,000 lbs. of A; 37,500 lbs. of B
Winkler Company borrows $85,000 and pledges its receivables as security. The journal entry to record this transaction would be:
A. Debit Cash of $85,000 and credit Accounts Payable $85,000. B. Debit Cash of $85,000 and credit Accounts Receivable $85,000. C. Debit Note Receivable $85,000 and credit Accounts Receivable $85,000. D. Debit Accounts Receivable $85,000 and credit Notes Payable $85,000. E. Debit Cash $85,000 and credit Notes Payable $85,000.