Managers Have to Unlearn Old Ideas and Test Decision- Making

question 30

Multiple Choice

Managers have to unlearn old ideas and test decision- making skills by not:

• A)listening to good news and suppressing bad news.
• B)converting events into learning opportunities.
• C)encouraging diversity.
• D)listening to dissenters.

---

Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the owners' claim against the company’s assets.

Error Correction

A process in accounting used to rectify inaccuracies or mistakes in financial records and statements.

Inventory Costing Method

A system used to value inventory, including methods such as FIFO (First In, First Out), LIFO (Last In, First Out), and weighted average cost.

Fiscal Year End

The closing date of a 12-month accounting period upon which a company completes its annual financial reporting and determines net income.