Answer:
c) Rick has an external locus of control.
Explanation:
What can challenge Rick in his quest to become a successful entrepreneur is that he has an external locus of control, which occurs when an individual relates events related to their failures or successes to external variables that are not their responsibility, such as fate, luck or bad luck.
The external locus of control can pose a challenge for Rick in the sense that an entrepreneur's success is related to his own personal control and personal efforts to make the business viable and successful in the market. It is necessary for the entrepreneur to understand that there are risks inherent to the business and that a business can work according to their efforts, learning and planning, that is, the entrepreneur and their control and management actions will be responsible for the success or failure of the business, and not just external factors like fate or bad luck.
Answer:
business rules
Explanation:
Business rules define how a business will execute a certain process. For example, establishes the conditions where products can be delivered without any extra charge or fee: if the purchase amount is over $500, or within a 5 mile radius.
It establishes the parameters at which the business will operate. An employee should always be able to determine if a business rule allows or not a process to be performed, no gray areas should exist. Following with our previous example, if the purchase adds up only $450, then a delivery fee should be charged, or if the customer lives 7 miles away.
The specialization of the following are:
1. Production Manager- oversees the overall production of goods that are being sold in the market.
2. Manager of the campus recruiting - oversees the overall recruitment of his/her staff in campuses.
3. Head of Sales - oversees the sales of the company from time to time
4. Director of Finance - oversees the cash-in (collection from sales) and cash-out (disbursement to maintain operation) of the company
5. President - oversees the overall performance of the company
Answer: C. Debit Work in Process Inventory $110.000, debit Factory Overhead $40,000, credit Factory Wages payable $150,000
Explanation:
Minstrel incurred a factory payroll of $150,000 and $40,000 was indirect.
This $40,000 indirect payroll cost will be treated as Factory overhead and will be debited.
The remaining $110,000 is direct labor costs and it will be apportioned to inventory therefore it will be debited to the Work in Process account.
The total figure of $150,000 represents the amount that the company owes its factory staff so it will be credited to factory overhead to recognize it as a liability.
