Which of the following real-world scenarios best exemplifies formalization?
A. W. L. Gore's associates organizing themselves in project-based teams that are led by sponsors, not bosses
B. Yahoo's decision to fire its CEO after incurring huge losses
C. Zappos' focus on allowing its customer service employees to use their own approach rather than depend on scripts
D. McDonald's use of standard operating procedures across the world
Answer: D
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The owner of supermarket chain Reynold's has realized that customers want a wider variety of goods than is currently available. However, Reynold's cannot afford the costs of storing excess inventory
Additionally, the owner is not willing to take the risk that the new products will remain unsold. Which of the following types of wholesalers can help Reynold's meet customer demand while minimizing costs? A) Producers' cooperatives B) Cash and carry wholesalers C) Truck wholesalers D) Drop shippers E) Rack jobbers
On January 1, a company issues bonds dated January 1 with a par value of $370,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $384,280. The journal entry to record the first interest payment using the effective interest method of amortization is: (Rounded to the nearest dollar.)
A. Debit Bond Interest Expense $18,922.00; debit Premium on Bonds Payable $1428; credit Cash $20,350. B. Debit Bond Interest Expense 21,778; credit Premium on Bonds Payable $1428; credit Cash $20,350. C. Debit Bond Interest Expense $19,214; debit Premium on Bonds Payable $1136; credit Cash $20,350. D. Debit Interest Payable $20,350; credit Cash $20,350. E. Debit Bond Interest Expense $19,214; debit Discount on Bonds Payable $1136; credit Cash $20,350.
Liberty Industries purchased merchandise worth $1,800 on credit, terms n/30 and returned merchandise worth $200 on the next day. What is the required journal entry to record the merchandise returns under the perpetual inventory system?
A) Accounts Payable 200Purchases Returns and Allowances 200 B) Accounts Payable 200Merchandise Inventory 200 C) Merchandise Inventory 200Purchases Returns and Allowances 200 D) Purchases Returns and Allowances 200Merchandise Inventory 200
What are the key steps that should be taken in approaching the challenges of recruiting and selecting people into these management grades?
What will be an ideal response?