The Values Statement of Reliable Airlines Emphasizes the Importance of Customer

question 88

Multiple Choice

The values statement of Reliable Airlines emphasizes the importance of customer safety. After a difficult year of losses, the company president asked managers to reduce costs in marketing, payroll, and all other areas except maintenance, stating, "We can tighten our belts in every other area, but we will never scrimp on safety. In this business, if you are not safe, you don't have an airline." This illustrates which purpose of shared organizational values?

• A) Guide managers' decisions and actions.
• B) Shape employee behaviour.
• C) Influence marketing efforts.
• D) Build team spirit.
• E) Create internal harmony.

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Definitions:

Interest Expense

The financial cost of borrowing money that an entity sustains over time.

Notes Payable

Written promises to pay a specified amount of money, usually including interest, at a future date; classified as liabilities.

Cash

Money in the form of coins or banknotes, especially that which is used to conduct transactions.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments, used to compile financial statements and check for errors in journal entries.