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MNC SCENARIO: Mr

question 11

Multiple Choice

MNC SCENARIO: Mr. Adam Smith works as a senior executive for Corebiz Corp., a multinational company with subsidiaries in many Asian countries. The firm believes in a marketing strategy that strongly resonates the essence of the local culture in its implementation. The company relocates Mr. Smith to Beijing to handle their operations in China. A few months into his stay, Mr. Smith begins to learn the ways of life and appropriate behavior in China. When Mr. Smith was invited for tea by his colleagues, he observed people around him and learned the right way to tap his finger and fold a napkin. He also learned that the Chinese revere their elders and treat them with respect. Even when there is no kinship involved, an older person should never be addressed with his/her name. Any show of disrespect, especially “name calling,” is shunned upon by society; and the person found doing so, risks being ridiculed by everyone. Though these learnings can sometimes be inconvenient for Mr. Smith owing to the vast cultural difference between the United States and China, Mr. Smith thinks that it is worth all the trouble.
-Refer to MNC Scenario.When Mr.Smith was invited for tea,he observed people around him and learned the right way to tap his finger and fold a napkin.Such kind of learning is an example of _____.

Definitions:

Customer Refunds Payable

Liabilities owed to customers for products or services that were sold but later returned or found unacceptable.

Perpetual Inventory

An inventory tracking system that records the sale or purchase of inventory immediately through the use of computerized systems.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, carried over from the end of the previous period.

Cost of Goods Sold

This term refers to the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.