Scenario: Bob Baldwin As an Owner and Manager of Tricky Toys, Bob Baldwin

question 79

Multiple Choice

Scenario: Bob Baldwin
As an owner and manager of Tricky Toys, Bob Baldwin has been fascinated by all the changes occurring and transforming the workplace.Bob is concerned about the important OB trends that he can understand and take advantage of in developing and positioning his company in the marketplace.
-Bob has been interested in this trend of globalization.He should know that globalization occurs when an organization:

• A)increases its connectivity with people and organizations in other parts of the world.
• B)serves diverse customers within the firm's home country.
• C)has a diverse workforce within the firm's home country.
• D)does all of the above.
• E)does only 'B' and 'C'.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, a key component in calculating cost of goods sold.

Overstatement

An error or inaccuracy in accounting records or financial statements where the value of assets, revenues, or profit is recorded higher than the actual amounts.

Net Realizable Value

The estimated selling price of goods minus the cost of their sale or disposal, used in determining the value of inventory on the balance sheet and for assessing asset impairment.

Write-Down

An accounting practice of reducing the book value of an asset because it's overvalued compared to the market value.