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- Choose the right answer. 12. (The law of Agency) What does "to exercise reasonable care and skill" means? a. To act according to instructions b. To act according to business custom c. To act with diligence d. To act reasonably on time 13. (Law of Contract) Anticipatory breach occurs _______________. a. during the performance of contract b. after the performance of contract c. before the time of performance of contract d. at the time when the performance of contract is due 14. (Law of Contract) Farid proposes, by letter, to sell his house to Kee for RM200,000. The communication of the proposal is complete when _____________ a. Farid posts the letter b. Kee receives the letter c. Kee posts the reply letter d. Farid receives the reply letterAnn Donnelly is a senior audit manager in an East Coast office ofa public accounting firm. Her prospects for promotion to partner are excellent if shecontinues to perform at the same high-quality level as in the past. Ann was recentlymarried, and she and her husband bought a large home in a prestigious neighborhood.Ann just returned from a vacation and was immediately called into an audit partner’soffice for a discussion related to one of her publicly traded audit clients. This auditengagement, which had been completed with an audit report issued several monthsprior, had been selected for a PCAOB inspection and the partner is concerned. PCAOBinspections can be stressful for the primary engagement partner and often result in theidentification of audit deficiencies by the PCAOB, which are then discussed with the auditfirm. The partner is concerned he will look bad and may even face penalties from the firmif there are serious deficiencies identified.Under PCAOB auditing standards, all…Managerial competence is a. The power of the manager to award rewards and penalties b. The authority of the manager to hire new employees c. The ability of a mana to perform a particular job function d. The power to make decisions in conditions of a risk
- Family Business Topic: Compensation/Discrimination Characters: Jane, Manager, Payroll Department for R&S Electronic Service Company Brad, Owner of 1tdcS Electronic Service Company Eddie, General Manager Greg, Service Technician and Eddies brother Jane has just been hired as the head of the Payroll Department at R&S Electronics Service Company, a firm of 75 employees. She was hired by Eddie, the General Manager of the company, who informed her of the need for maintaining strict confidentiality regarding employee salaries and pay scales. He also informed her that he fired the previous Payroll Department head for breaking that confidentiality by discussing employees’ salaries. She was also formally introduced to Brad, the owner, who told her to see him if she has any questions or problems. Both Brad and Eddie made her feel welcome. After three months of employment, Jane begins to wonder why Greg makes so much more in commissions than the other service technicians. She…HIT AND MISS MANUFACTURING: A Star is Born The head of HR deparment, Atty. Mila Bravo was directed by the company president to act as leader of a committee whose task is to revise and update the current compensation scheme of the company. The president designated the following as members of the committee:1. The accountant2. The executive secretary3. An employee in one of the operating units4. An officer of the labor union5. The internal auditor6. A representative from the public During the first meeting, the seven members were all present. The president made a briefing regardingthe purpose of the group, the circumstances that lead to the formation of the group, and his expectations about the group’s output. The group proceeded to determine the various factors relevant to the determination of the rates of the various jobs. Most of the members of the committee, however, cannot devote the time required to finish the job within the time frame indicated by the president. It turned out later…Hazel had worked for the same Fortune 500 company for almost15 years. Although the company had gone through some toughtimes, things were starting to turn around. Customer orders wereup, and quality and productivity had improved dramatically fromwhat they had been only a few years earlier due to a companywide quality improvement program. So it came as a real shockto Hazel and about 400 of her coworkers when they were suddenly terminated following the new CEO’s decision to downsizethe company.After recovering from the initial shock, Hazel tried to findemployment elsewhere. Despite her efforts, after eight monthsof searching she was no closer to finding a job than the day shestarted. Her funds were being depleted and she was getting morediscouraged. There was one bright spot, though: She was able tobring in a little money by mowing lawns for her neighbors. She gotinvolved quite by chance when she heard one neighbor remarkthat now that his children were on their own, nobody was aroundto…
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- (1) Where do you think you would be mostcomfortable: as a regular employee in aconventionally structured firm or as an independentcontractor, moving from project to project? Why? (2)Assume that you went to work for a conventionalemployer and then left to work as an independentcontractor as soon as you developed enough of a skillset to make it on your own. (Assume, as well, that youwere not violating any sort of employment contractand were free to leave.) Would you have any ethicalconcerns about leaving an employer who hadinvested in your professional development? Why orwhy not?Superior Products Company has recently hired a new HR assistant, Virginia Fisher, who just received a college degree. Frederick Mills, the HR Director, was extremely pleased to find someone who had some familiarity with basic management concepts because he was the entire HR department except for a clerk-typist. During the interview Frederick emphasized that he planned to have Virginia function as his assistant and that she would be doing some interviewing and be responsible for maintaining employee records. Because Superior has over 300 employees, Frederick had been too busy to prepare anything resembling a job description except for some scrawled notes on the back of an envelope. Everything went fine for the first week for Virginia. On Monday of the second week, Frederick called Virginia into his office and explained that there was another minor duty that he had not mentioned to her. Frederick said, “In order to get approval to hire you from the president. I had to agree…You have been hired as Head of Human Resources/Labor Relations for a small city in Ohio. There are four (4) bargaining units; police, fire, Roads and Clerical. You also have non-union administrative employees. All contracts are to expire on December 31, 2022. Explain all you will consider and all you will do to prepare for negotiations, negotiate and ratify new collective bargaining agreements. In addition to other provisions, you want to negotiate a City-wide vaccination and masking policy. FOLLOW THE OUTLINE AND EXPLAIN EACH STEP IN YOUR OWN words. WHERE DIFFERENT GROUPS ARE HANDLED DIFFERENTLY, EXPLAIN.
