Discuss the network structure
What will be an ideal response?
The network structure is an example of what could be termed a "non-structure" by its virtual elimination of inhouse business functions. Many activities are outsourced. A corporation organized in this manner is often called a virtual organization because it is composed of a series of project groups or collaborations linked by constantly changing nonhierarchical, cobweb-like electronic networks. It becomes most useful when the environment of a firm is unstable and expected to remain so.
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The risk is highest in the earliest phase of the project life cycle
Indicate whether the statement is true or false
You are auditing Rodgers and Company. You are aware of a potential loss due to noncompliance with environmental regulations. Management has assessed that there is a 40% chance that a $10M payment could result from the non-compliance
The appropriate financial statement treatment is to A) accrue a $4 million liability. B) disclose a liability and provide a range of outcomes. C) since there is less than a 50% chance of occurrence, ignore. D) since there is greater that a remote chance of occurrence, accrue the $10 million.