Answer:
Escalating Commitment.
Explanation:
The tendency of organizations to invest time and money in a solution despite strong evidence that is not appropriate is referred to as escalating commitment. Escalating Commitment occurs when one person does not stop putting and allocating resources, time and efforts to a failing project or plan or action. It mean, here the last step of management function "control" is totally ignored which can cause lot of problem and issues. We don't try finding out the discrepancies in the project, we don not evaluate the performance and see where we are lacking and what needs to be done. Instead, we continuing putting or wasting our time, effort and resources into a bad project. Even if someone advise us correctly, we still don not listen to him or her. For example, we continue working for the employer which we do not like, companies continue to invest in a technology which is no longer needed or is going to be eroded in the very near future etc.
Answer:
a. Debit Retained earnings $53,200; credit Dividends $53,200.
Explanation:
When we close the journal entries, we close all the temporary accounts such as revenues, expenses, and dividends. Closing means the balance of revenues, expenses, and dividends will be "0". To make "0" balance of any temporary accounts, we have to reverse the balance as normal balance. For example - Service revenue is a credit balance. If we close it, we have to make service revenue as a debit account. Similarly, to close the dividends account,
The journal entry to record the closing of dividends is -
Retained earnings (Debit)
Dividends (Credit)
The correct answer for the blank space on the question is planned economy.
Planned economy refers to <em>a form of economy that is commonly associated with communism</em>. It is a type of economic system where the allocation of investments and production of goods are done according to economic plans. This is apparent from how John still receives his salary even though his workplace is no longer producing cars. It is different with market systems where demand drives the economy.
Answer: True, this is one of the drawbacks of classical perspective of management.
Explanation: In classical perspective of management, the organization considers itself more important than its employees. The organization believes itself to be the machine and its employees to be the parts, and as we know, parts can easily be replaced.
In this management practice, the organization does not consider the social, mental and emotional needs of its workers. It believes that the workers only have economic and physical needs and that other needs are unimportant or non existent.
As can be seen in the question above, the law firm has not taken into account the emotional trauma the mother of the deceased must be passing through. For the law firm, "the show must go on", regardless of who gets affected negatively.
The answer is d. For example you may pay a fixed rate of $300 a month for rent for a place to operate your business. Whether you produce an output of 0 or 12000 units (the level of activity), you will pay $300 a month regardless. This is a fixed cost.