When we say that organizations are social inventions we mean that
A) physical assets and implements of technology are irrelevant to organizations.
B) they must have both people and things to be considered organizations.
C) the existence of organizations is what differentiates humans from animals.
D) they don't really exist.
E) organizations don't exist without members.
Ans: E) organizations don't exist without members.
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An event planner wants to determine a price for a package of garland of silk flowers. Its cost is $7.00. She wants a markup of 30 percent based on selling price. Which of the following is closest to the price she should charge her customers?
a. $15 b. $18 c. $10 d. $12
Smith was an officer of CCC Corp. As an officer, the business judgment rule applied to Smith in which of the following ways?
A. Because Smith is not a director, the rule does not apply. B. If Smith makes, in good faith, a serious but honest mistake in judgment, Smith is generally not liable to CCC for damages caused. C. If Smith makes, in good faith, a serious but honest mistake in judgment, Smith is generally liable to CCC for damages caused, but CCC may elect to reimburse Smith for any damages Smith paid. D. If Smith makes, in good faith, a serious but honest mistake in judgment, Smith is generally liable to CCC for damages caused, and CCC is prohibited from reimbursing Smith for any damages Smith paid.