STUDENT’S NAME______________Jill Riester____89.97%_______________ CHAPTER 7 QUIZ Indicate whether the following statements are true or false. (3.35 points each). For any false statement‚ indicate why it is false. (3.33 points) __T___ 1. A direct cause-and-effect relationship exists between the revenues and expenses of an Internal Service Fund. _____________________________________________________________________________________ ___F__ 2. Internal Service Funds are used to account for activities
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Chapter 7 Competition and Policies towards Monopolies and Oligopolies‚ Privatization and Deregulation Suggested Answers to the Review Questions I. Questions 1. Pure monopoly refers to the case where: a) there is a single firm selling the commodity‚ b) there are no close substitutes for the commodity‚ and c) entry into the industry is very difficult or impossible. If we further assume that the monopolist has perfect knowledge of present and future prices and costs‚ we have perfect monopoly
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CHAPTER 7 Cash and Receivables ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. 2. Accounting for cash. Accounting for accounts receivable‚ bad debts‚ other allowances. Accounting for notes receivable. Assignment and factoring of accounts receivable. Analysis of receivables. Petty cash and bank reconciliations. Questions 1‚ 2‚ 3‚ 4‚ 21 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12‚ 13‚ 14‚ 15 14‚ 15 16‚ 17‚ 18‚ 19 20 22 Brief Exercises 1 2‚ 3‚ 4‚ 5 Concepts Exercises 1‚ 2 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12 18‚ 19
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Chapter 7 1. According to Karl Marx social class depends on a factor of a person’s relationship to the means of production. He distinguished two classes: owner of the means of production (bourgeoisie) and a worker who works on these factories‚ tools and land‚ proletariat. Marx believed that person’s life is shaped only with regard of what he owns and what he works on. Max Weber believed that social class is made up of three elements: property‚ power and prestige. According to Weber‚ property is
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always tend to leave out some of the more disturbing parts of history. In A People’s History of the United States‚ Howard Zinn tells history from the perspective of all the minorities affected in the building of the United States. He criticizes the versions of history that are told from the “viewpoint of the leaders…” without any regard of the mass murders or exploitation (9). Zinn describes the novel as being “skeptical of governments and their attempts…” (10). The view of Zinn’s novel as a “history
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CHAPTER 7 Fraud‚ Internal Control‚ and Cash Study Objectives 1. Define fraud and internal control. 2. Identify the principles of internal control activities. 3. Explain the applications of internal control principles to cash receipts. 4. Explain the applications of internal control principles to cash disbursements. 5. Prepare a bank reconciliation. 6. Explain the reporting of cash. 7. Discuss the basic principles of cash management.
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Drucker: Chapter 7 – The Objectives of a Business The emphasis on profit can misdirect a manager and endanger business survival by: Undermining the future Push the easily sold line to the detriment of others Short-change research‚ promotion and other postponable investments Delay capital spend as it could effect the bottom line leading to obsolescence of equipment Management is the balance of a number of business needs and goals this requires judgement. Objectives are needed in every area where
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Management‚ 10e (Robbins) Chapter 7 Foundations of Planning 1) Planning is concerned with how objectives are to be accomplished‚ not what is to be accomplished. 2) Planning provides direction to managers and nonmanagers alike. 3) Even without planning‚ departments and individuals always work together‚ allowing organizations to move efficiently toward its goals. 4) Research indicates that nonplanning organizations always outperform planning organizations. 5) Goals are the foundation of organizational
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CHAPTER 7 CORPORATIONS: REORGANIZATIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Learning Present in Prior Problem Objective Topic Edition Edition 1 LO 1 IRS Letter Ruling Unchanged 1 2 LO 1 Reorganizations follow tax law Unchanged 2 3 LO 1 Types of reorganizations Unchanged 3 4 LO 2 Comparing like-kind exchange to corporate New reorganization 5 LO 2 Four-column template Unchanged 5 6 LO 1‚ 2‚ 3 Reorganization: tax attributes Unchanged 6 7
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Chapter 7- Outline IntroductionA. Mid 9th century losing control1. Rebellious governors2. New challenging dynastiesB. …but still creative – ironically – a golden age without political stability1. architecture2. fine arts3. literature4. philosophy5. mathematics and scienceC. Territorial growth – warriors‚ traders‚ wandering mystics1. political conquest2. peaceful conversionD. Conduit for exchange – between urban/agrarian centers and between nomadic peoples1. ideas2. plants and medicines3. commercial
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