Which of the Following Is an Incorrect Assumption About 'Strong

question 1

Multiple Choice

Which of the following is an incorrect assumption about 'strong' organizational culture?

• A)Strong culture means everyone in the organization shares and is committed to the organizations norms
• B)Organizations with strong cultures will always outperform other organizations.
• C)Strong culture can lead to organizational problems like groupthink.
• D)Strong culture means everyone in the organization shares and is committed to the organizations norms and organizations with strong cultures will always outperform other organizations.

Recognize concepts of loss aversion, mental accounting, and risk aversion in decision making.

Distinguish between true and false assumptions regarding economic decisions and principles.

Understand the concept of opportunity cost in economic decision making.

Comprehend the difference between rational and irrational decision making.

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Definitions:

Double-entry Accounting

An accounting method where every financial transaction results in equal and opposite effects in at least two different accounts.

Ledger

A book or collection of financial accounts where all transaction records are summarized and recorded.

Journal

A book or digital record where all financial transactions are initially recorded in chronological order before being posted to accounts in the ledger.

Debit

A bookkeeping record that leads to either a rise in assets or a fall in liabilities in a firm's balance sheet.