Answer:
b. professional bureaucracy
Explanation:
Bureaucracy refers to a kind of organizational structure which is governed by a clearly defined authority and rigid rules and regulations alongside long chain of hierarchy and reporting, which makes decision making a time consuming affair.
As per Mintzberg, professional bureaucracy is characterized by standardization of skills coupled with vertical and horizontal decentralization of responsibilities.
Such form of organizational structure allows for greater degree of autonomy and control to the professionals w.r.t their work. Such a bureaucracy recognizes the authority of professional expertise instead of the authority of hierarchy.
Such form of organizational structure is usually followed by schools, hospitals and universities wherein, the professional expertise of doctors and teachers define the authority instead of a pre existing chain of hierarchy that dictates what one is permitted to do.
Market failure occurs when a free market is unable to A) distribute resources efficiently.
Answer:
$665,500
Explanation:
The computation of ending retained earning balance is shown below:
The ending retained earnings balance = Opening retained earning balance - cash dividend declared - overstatement of inventory error + net income - stock dividend declared
= $539,000 - $119,000 - $39,500 + $344,500 - $59,500
= $665,500
We simply added the net income and the rest of the items are deducted to find out the ending retained earning balance
Purchase ledger.
The purchase ledger contains the individual accounts of suppliers from whom the business has made a purchase on credit.
The correct answer is B) Compute gross margin per sales point.
Caroline is conducting a share point analysis for Bloomingdale's. First, she estimates total industry sales by compiling a list of all department stores and their sales for the previous year. Next, she estimates Bloomingdale's market share within the industry. To find the value of one share point, Caroline must <em>compute the gross margin per sales point.</em>
Gross margin is part of the income statement that firms or industries need to elaborate every year. This metric indicates a detailed description of a company's revenues, expenses, and profit. When preparing a budget, gross margin defines the limits a company must take into account. That is why Caroline must pay close attention to the calculation and computing.
