What is the prediction of efficiency wage theory?
What will be an ideal response?
The prediction of efficiency wage theory is that above-market wages will improve efficiency by attracting workers who will perform better and be less willing to leave. So, staffing programs must have the capability of selecting the best employees; work must be structured to take advantage of employees' greater efforts.
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Pelmer has a foreign subsidiary, Sapp Corporation of Germany, whose functional currency is the euro. Sapp's books are maintained in euros. On December 31, 2014, Sapp has an account receivable denominated in British pounds
Which one of the following statements is true? A) Because all accounts of the subsidiary are translated into U.S. dollars at the current rate, the Account Receivable is not adjusted on the subsidiary's books before translation. B) The Account Receivable is remeasured into the functional currency, thus eliminating the need for translation. C) The Account Receivable is first adjusted to reflect the current exchange rate in euros and then translated at the current exchange rate into dollars. D) The Account Receivable is adjusted to euros at the current exchange rate, and any resulting gain or loss is included as a translation adjustment in the stockholders' equity section of the subsidiary's separate balance sheet.
Which of the following is correct with respect to an accountant's working papers?
a. The client is held to be the owner of an accountant's working papers. b. An accountant must surrender his working papers to his client if the client so requests. c. An accountant may not surrender her working papers unless the client consents or a court orders the disclosure. d. All of these are correct.