AccountingTrue or False1. A manager could be held criminally liable for the misdeeds of the company.2. It is not important for people to save for retirement when they can collectSocial Security.3. Effectiveness and efficiency mean the same thing.4. Older workers are slower and costlier than young workers.

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Answered: True or False 1. A manager could be…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the following example. A risk-neutral worker can choose high or low effort. The manager cannot observe the worker's action, but the manager can observe the realized revenue for the firm (either $100 or $200). The probability of each revenue depends on the worker's effort: Low effort: cost of effort: $0 probability of low revenue ($100): 75% probability of high revenue ($200): 25% High effort: cost of effort : $11 probability of low revenue ($100): 25% probability of high revenue ($200) : 75% The manager offers to give the worker a flat wage of $10 and a bonus of $20 if revenue is high. Given this payment scheme, the worker will put in ✓ effort. The firm's expected profit is $ The firm is considering an investment that would increase worker morale. By making work more enjoyable, the program would reduce the worker's cost of effort from $11 to $9. If it costs the firm $20 to implement this program, the firm's expected profit if they implement the program is $ ✓. The firm…
62) Agency Theory suggests: A) The interests of the managers are aligned with the interest of stockholders. B) The management is focuses on looking after its own self interest rather than focusing on the interest of the stockholders. c) Managers would never spend stockholder money on their own comforts. d) Stockholders reward managers with larger office space and many incentives to encourage them to perform well.
Identify and discuss the non-financial factors that may affect a client’s decision to reduce employee wages
13. With an increase in ________, employee training is important in many companies. A. Technology B. Employees C. Workplace discrimination D. Upper management 14. Training is usually: A. Paid for by the employee B. Provided and paid for by the company C. Free to all participants D. Paid for by a professional trainer 15. An entrepreneur is someone who: A. All of these B. Would rather work for others C. Doesn't mind lower pay as long as he or she can work for him- or her-self D. Assumes the risk of succeeding or failing in business 16. Continue expanding your knowledge: A. Only in areas that interest you B. Only in areas relating to your current job C. In as many areas as possible D. In only areas your boss recommends
Stephen, a manager, believes that if his company's revenue hadn't increased last year, it wouldn't have been able to increase profits. The flaw in Stephen's thinking is that ________. Question 26 options: A) profits can also be increased by lowering costs, not just increasing revenue. B) the company can increase revenue by advertising more. C) profitability might not be the company's only objective. D) other similar companies have increased their profits, too. E) revenue doesn't contribute to profitability.
Many financial managers and corporate officers are often criticized for (a) poor decisions, (b) lack of ethical behavior, (c) large salaries, (d) lucrative severance packagesworth millions of dollars, and (e) extravagant lifestyles. Is this criticism justified? Justify your opinion.
1. How is hiring the “next generation” of Chinese elites different from practices here in North America. Is it the same as Clinton’s daughter securing a job at a hedge fund company? 2. What are some of the moral principles involves here and what are some of the consequences of this practice? How does any company stay competitive if others choose to conduct unethical business practices?
2. What are some possible drawbacks to using standard costs that Sarah might consider? a. Standards limit operating improvements because employees may be discouraged from improving beyond the standards. b. Standards may become “stale” in a dynamic manufacturing environment. c. Employees may focus only on efficiency improvement and their own operations rather than considering the larger objectives of the organization. d. Since standards are impossible to attain, they are a distraction from the work at hand. e. Since standards never change, they do not reflect reality. Answers a, b and c b, c and d c, d and e a, d and e b, d and e
What the advisory officer do if he didn't success after following the steps or doing reconstruction for the company?
What are some of the non-financial factors you would consider if you were faced with a decision related to keeping or terminating a business segment? Can you think of a time when you experienced a dropped segment? Were there consequences other than financial that affected the company?
In discussing "output-based compensation schemes," such as piece-rate systems, Stanford economist Edward Lazear observed, "One major advantage of this approach is that it accommodates a variety of worker preferences." But he also noted, "A disadvantage is that a pure piece-rate scheme makes the worker bear risk associated with variations in. business conditions." Source: Edward P. Lazear, "Compensation and Incentives in the Workplace," Journal of Economic Perspectives, Vol. 32, No. 3, Summer 2018, pp. 195-214. a. What does Lazear mean by the first quote above? How do these compansation schemes accommodate different worker preferences? Preferences for whar? OA Piece-rate compensation can benefit both workers who have less ability as well as those who have greater ability OB. Piece-rate pay can benefit workers who prefer to earn more income as well as those who prefer more leisure time. OC. A piece-rate system can benefit workers who prefer a slower work pace and those who prefer a…
Stricter rules for health, environment and safety (HSE) lead to: a Reduced employment because taxes must be increased to pay for HSE measures b. Reduced employment because it becomes more expensive for companies to hire people c. Increase employment because there will be fewer accidents and thus fewer work-related injuries d. Increase employment because HSE leads to new work tasks that require extra employees

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