Chapter 9 Answers: 1. Consideration consists of mutual exchange of gains and losses between contracting parties. In the exchange‚ a gain by the offer is at the same time a loss to the offeror. The legal term used to designate the gain that each party experiences is that party ’s legal benefit. Consideration has three characteristics 1) The agreement must involve a bargained-for exchange; 2)the contract must involve adequate consideration; and 3) the benefits and detriments promised must themselves
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general ethics to business behavior ‚its is the extension of individual/group ethics to business situations. Source:http://www.slideshare.net/ajithsrc/hrm-ethics Managerial Ethics: 1. Managerial ethics are a set of standards that dictate the conduct of a manager operating within a workplace. Author: Alex Burke 2. Managerial Ethics: Ethical management is the knowledge of standards in both accounting and corporate governance‚ and recognition of the link between ethics and organizational
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Answers to Essay Questions: Chapter 8 8. Injured parties can recover damages by suing‚ asserting negligence under the Uniform Commercial Code (UCC). 9. To sue for negligence‚ the plaintiff must establish that the defendant breached its duty of care‚ creating an unreasonable risk to harm and such negligence or carelessness was the proximate cause of the plaintiff’s injury. 10. Strict liability is a liability ascribed to a manufacturer or seller of a defective or dangerous product regardless
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"Managerial ethics help to guide decision making and the organization of internal and external behavior. Ethical problems usually arise from a conflict between an individual or group and the company‚ division or department as a whole. Companies have created a set of values and standards that are recognized by managers and consistently referenced during the work day have created an ethical platform that can operate managers and make decisions. Training managers on the specifics of managerial ethics
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Managerial Etiquette Abstract Today ’s competitive job market demands qualified and skilled manager. Among the many responsibilities of a manager‚ managing people demands a high level of expertise and professionalism. The manager ’s manners‚ which include business etiquette‚ protocols‚ codes of conduct‚ communication and interpersonal skills‚ and adherence to internal and external policies and procedures‚ dramatically influence managerial success. Managerial manners are essential aspects
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Term Paper Managerial Success Productivity is the essence of any work environment. Despite the type or arena of employment; workers produce something whether it is an object or an intangible item. Many occupational tasks are manual‚ clerical‚ or intellectual. Despite which type of task; a manager is responsible for the product‚ which is a large responsibility. Such responsibility necessitates skills such as goal setting‚ planning‚ implementing‚ and controlling. These four skills dictate the
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Partnership – Basic Considerations and Formation 1 CHAPTER 1 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 1-1: a Jose’s capital should be credited for the market value of the computer contributed by him. 1-2: b (40‚000 + 80‚000) 2/3 = 180‚000 x 1/3 = 60‚000. 1-2: c 1-3: a Cash P100‚000 Land 300‚000 Mortgage payable ( 50‚000) Net assets (Julio‚ capital) P350‚000 1-4: b Total Capital (P300‚000/60%) P500‚000 Perla’s interest ______40% Perla’s capital P200
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Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are periodical costs ( expensed as incurred directly in the Income Statement Economic Value: ROCE – WACC (ROCE
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Chapter7&8 discussion questions CHAPTER 7 Discussion Questions : #2. Why is there a trend toward cross-functional integrated enterprise systems in business? Due to positive turnout of many businesses‚ cross-functional integrated systems is not only becoming a trend but will be here to stay. The whole system provides savings from time‚ cost and quality compared to manually re-entering of data from one business function system into another system especially if it is still on a non-integrated
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68 Chapter 4 CHAPTER 4 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 4-1: a PAR BOOGIE BIRDIE Capital balances before realization P 20‚000 P 16‚000 P 10‚000 Loss on liquidation‚ P40‚000 ( 20‚000) ( 12‚000) ( 8‚000) Cash distribution P – P 4‚000 P 2‚000 4-2: c PING PANG PONG Capital balances before liquidation P 50‚000 P 50‚000 P 10‚000 Gain of P10‚000 (150‚000-140‚000) __6‚000 __2‚000 __2‚000 Cash distribution P 56‚000 P 52‚000 P 12‚000 4-3: b PING
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