Answer:
Line and staff organization
Explanation:
Marvelous Motor practice line and staff organization.
Line and staff organization refers to when specific and supportive roles are attached to the line of command by assigning staff supervisors and staff specialists who are attached to the line authority.
The executives(managers of each type of vehicle) holds the power of command and staff supervisors(financial and legal department) guides, advices and council the line executives.
On September 12, Vander Company sold merchandise in the amount of $9,000 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,600. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18 and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:
Answer and Explanation:
The journal entry is shown below;
Cash $8,820
Purchases discounts (2% of $9,000) $180
To Accounts payable $9,000
(Being cash received is recorded)
here cash is debited as it increased the assets, discount is debited and credited the account payable as it also increased the liability
__________ is a cornerstone in the protection of information assets and in the prevention of financial loss.
Answer:
Separation of duties.
Explanation:
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.
One of the essential characteristics of internal control is the principle of establishing responsibility such as assigning responsibility to specific individuals. An internal control is considered to be most effective when an individual is solely responsible for a specific accounting task.
Hence, the principle of establishing responsibility include the following;
I. Only one person or an individual is being responsible for a task.
II. An individual is solely responsible for the authorization of transactions.
III. An individual is solely responsible for the approval of transactions.
Separation of duties is a cornerstone used as an internal control measure for the protection of information assets and in the prevention of financial loss.
According to the separation of duties, an employee such as an accountant who opens a bank statement should not be the same person that is saddled with the responsibility of reconciling cash inflow and outflow.
True or False: Timothy, Jude, and Eric are working in the marketing department of a multinational corporation. They each have similar backgrounds and experience and are thinking about leaving their current company to start their own business. Successful entrepreneurial teams are comprised of these types of people because similarities in knowledge and skill ensure harmony and consistency in their new business.
I guess answer is true may be
Answer:
TRUE
Explanation:
Management should conduct a ________ to identify those controls that are most appropriate and provide the greatest benefit to the organization given the available resources.
Answer:
cost-benefit analysis
Explanation:
A cost-benefit analysis (CBA) is the process that are applied to determine the decision benefits or the actions are taken minus the cost along with the actions. It includes the financial metrics like revenue or the cost i.e. saved
So here in the given situation the cost benefit also provides the high benegits to the organization by having the resources
Therefore the above should be the answer
How do debt repayment and structural adjustment terms hamper economic development? A. Only wealthy nations need to repay their debts, so it slows their progress. B. This is no longer a problem because debt repayment was completely erased after World War II. C. Both measures rob a developing nation of money it could use to invest in social welfare improvements. D. They always penalize highly developed nations rather than underdeveloped ones. Please select the best answer from the choices provided. A B C D
Answer:
c
Explanation:
Carfax is an example of a company that sells its products or services directly to its consumers online. Which ebusiness model is Carfax using
Answer:
B2C
Explanation:
Ebuiness model is defined as the strategy that a firm uses to promote its products and services on the internet. Therefore it is referred to as electronics business.
The subgroups of ebusiness includes:
- business to customer (B2C)
- business to business (B2B)
- customer to business (C2B)
- customer to customer (C2C)
Business to customer involves a model where a business sells their goods and services to end users or individual customers.
This is the case in the given scenario where Carfax sells its products or services directly to its consumers online.
Siiri invests 10 % in real estate, 40 % in mutual funds, 25 % in government bonds, and 25 % in stocks. what do Siri’s investment demonstrate?
Answer: Asset allocation
Explanation:
Asset allocation refers to the strategy of investing in different types of assets and investment vehicles so that the risks would be balanced by the rewards to be earned so that the investor will benefit.
Asset allocation is usually based on the investor's investment goals and their risk appetite. Those who are more risk tolerant will usually invest more in stocks so Siiri here is most likely risk averse but based on the percentage that went into stocks, they might be more risk neutral.
Suppose that Dr. Reilly owns a medical clinic and he enters into a contract to buy 500 tablets of Gensol from Pharzime. The Gensol that he orders are 200 milligrams each. The Gensol that is delivered however are 100 milligrams each. Decide.
Answer: See explanation
Explanation:
Based on the information given, it can be infered that the goods are nonconforming due to the perfect tender rule.
According to the perfect tender rule, a buyer can reject goods that are deliveres to him or her tender of the goods from the seller isn't perfect. Since the Gensol that he orders are 200 milligrams each while the one delivered are 100 milligrams each, then they aren't perfect.
Therefore, the clinic can reject the shipment, or keep some and reject others if it wants to.
A financial institution near you advertises itself as especially oriented towards educators and teachers. What is the category this institution would most likely fall under
Answer:
Credit union.
Explanation:
A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks to employees such as teachers, educators, nurses, etc.
Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.
In this scenario, a financial institution advertises itself as especially oriented towards educators and teachers. Thus, the category this institution would most likely fall under is a credit union because it's not run like businesses that is after making profit i.e it's a non-profit business established to assist employees with their finances.
Answer:
Credit union
Explanation:
Credit union is the category this institution would most likely fall under.
5. Give an example of 'Post Purchase Behavior being important in the buying
process of an individual buyer.
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
This would be my example of Post Purchase Behavior being important in the buying process of an individual buyer.
When an individual buys a car, the seller usually shows a great attitude to take care of the client, he continually answers questions and facilitates the process. But the deal is done, it seems that the salesman and the company automatically disappear.
Post Purchase Behavior is important in the buying process of an individual buyer because it really shows the interest and the willingness of the company to take care of their clients. Here is when the salesman or the customer care agent follows up and offers the client a series of services or options to make the client feel comfortable and assure him that he did the best purchase.
The customer care agent can frequently call the client or contact him through email, to ask about how he feels with his new car, if he has encountered any problems if the company can be of help, maybe offering the client a "thank you gift" to create a loyalty bond, and more.
With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. What phenomenon is Micah's company experiencing
Answer:
big data
Explanation:
From the question we are informed about an instance whereby With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. In this case, the phenomenon Micah's company is experiencing is big data.
Big data can be regarded as phenomenon involving exponential growth of business data which is attributed to the 21st-century as well as the challenges that is been associated with with it, these could be storage, management as well as holistic collection and analysis of series of data for the owner of the business.
When managers analyze a wide variety of internal and external performance metrics in order to set financial and strategic goals, they often turn to a framework known as ______.
Answer:
balance scorecard
Explanation:
A balanced scorecard is a performance metric that are applied for identifying, improvement and the control of the different functions and results of an organization. It mainly deals with the learning & growth, processes of the business, customers and the finance
Also at the same time it analyzes the internal and external performance so that the financial and strategic goals could be set out
"Cory is a salesperson at Bayray Technologies, a company that manufactures laptops and cameras. During a sales presentation for the company's new camera, he states, "Cameras produced by us have the same resolution as the cameras produced by ClarityO, the world's number one camera manufacturer, but at a cheaper price." In this scenario, Cory is using a(n) _____ to describe the product."
Answer:
comparison
Explanation:
Since cory is a sales person at bayray technologies and at the time of sales presentation he stated that the camera resolution of our company should be similar with the Clarity O company but the price are cheaper so here cory is doing the comparison of cameras between his company and with the other company to capture the market share by telling the advantages of his company product
The ________ line is a financial analysis tool that enables you to see patterns in cash inflows and outflows. A : value B : money C : time D : trend
Which of the following is not true regarding the purpose of an audit performed on a set of financial statements in accordance with generally accepted auditing standards? Group of answer choices to provide financial statement users with an opinion on whether the financial statements are presented fairly or not to provide users of the financial statements with an opinion on the financial statements to provide financial statement users with an opinion in accordance with the applicable financial reporting framework to provide users of the financial statements with absolute assurance that the financial statements contain no errors in them
Answer:
to provide users of the financial statements with absolute assurance that the financial statements contain no errors in them.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors by using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Some examples of financial statements includes a balance sheet, cash-flow and income statement.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
GAAP is an acronym for Generally Accepted Accounting Principles, it was adopted by the U.S. Securities and Exchange Commission (SEC) and is the comprehensive accounting rules and standard used in recording and reporting financial information.
In accordance with generally accepted auditing standards (GAAP), providing users of the financial statements with absolute assurance that the financial statements contain no errors in them is not a purpose of an audit performed on a set of financial statements.
This ultimately implies that, an auditor cannot give a client an absolute assurance that a financial statement wouldn't contain errors in them.
Greg's team was given the task of updating the company's invoice and billing system. They completed the project ahead of schedule and came in way under budget. As a result, everyone on the team received a bonus. This is an example of a(n) ______ reward.
Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in
Answer:
market segmentation
Explanation:
Market
People or an organization with needs or wants and the ability and willingness to buy.
Market Segment
A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
Market Segmentation
The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
When cost systems were developed in the 1800's, most companies ______. Multiple select question. produced a small number of similar products focused on simplicity assigned overhead based on machine hours believed there was little correlation between labor hours and overhead
Answer:
believed there was little correlation between labor hours and overhead
Explanation:
When cost systems were developed in the 1800's, most companies used a blanket overhead or a plant wide rate to allocate the overheads. They believed there was little correlation between labor hours and overhead.
Diminishing marginal product suggests that Group of answer choices marginal cost is upward sloping. Adding additional workers will lower total cost. The firm is at full capacity. Additional units of output become less costly as more output is produced.
Answer:
The marginal cost is upward sloping.
Explanation:
This is because the marginal product of labor decreases as additional labor is employed which increases the marginal cost.
Rudy Company reports gross sales revenue of $5.2 million, net sales revenue of $5 million, and cost of goods sold of $3 million. Rounding to the nearest percent, the company's gross profit ratio would be
Answer:
40 %
Explanation:
Gross Profit ratio = Gross Profit / Net Sales x 100
where,
Gross Profit = Net Sales - Cost of Sales
= $2 million
thus,
Gross Profit ratio = $2 million/ $5 million x 100
= 40 %
The company's gross profit ratio would be 40 %
rey Wolf, Inc., has current assets of $2,360, net fixed assets of $11,200, current liabilities of $1,445, and long-term debt of $4,170. a. What is the value of the shareholders’ equity account for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. How much is the company's net working capital? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Answer:
A. $7,945
B. $915
Explanation:
a. Calculation to determine the value of the shareholders' equity account for this firm
Using this formula
Owners' equity = Total liabilities and owners' equity − Current liabilities − Long-term debt
Let plug in the formula
Owners' equity = $13,560 − 1,445 − 4,170
Owners' equity = $7,945
Therefore the value of the shareholders' equity account for this firm is $7,945
b. Calculation to determine How much is the company's net working capital
Using this formula
Net working capital = Current assets − Current liabilities
Let plug in the formula
Net working capital = $2,360 − 1,445
Net working capital = $915
Therefore the company's net working capital is $915
Harold is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is _____. Group of answer choices phased retirement early retirement bridge retirement voluntary retirement
Answer:
phased retirement
Explanation:
From the question, we are informed about Harold who is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is phased retirement. Phased retirement can be regarded as range of employment arrangements that is been put in place, to give room to an employees that are already approaching retirement age so they can continue working in the firm with a reduced workload, so that t the end of the day they can experience a transition from full-time work into what is called full-time retirement. Phased retirement encompass pre-retirement as well as gradual reduction in work hours , it also contains post-retirement as regards pensioners that has wish to remain employed.
Pine Company provides for doubtful accounts expense at the rate of 2% of credit sales. The following data are available for 20X4: Allowance for doubtful accounts, 1/1/X4 $18,000 Accounts written off as uncollectible during 20X4 $20,000 Collection of accounts written off in prior years (customer credit was reestablished) $5,000 Credit sales year ended 12/31/X4 $1,500,000 The allowance for doubtful accounts balance at December 31, 20X4, should be
Answer:
the allowance for doubtful account balance is $28,000
Explanation:
The computation of the allowance for doubtful account balance is given below:
Allowance for Doubtful Doubts Balance
= Beg Balance + Bad Debt Expense - Accounts written off
= $18,000 + (2% of $1,500,000) - $20,000
= $18,000 + $30,000 - $20,000
= $28,000
hence, the allowance for doubtful account balance is $28,000
Waterway Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $602000 and credit sales are $2680000. Management estimates that 3% of accounts receivable will be uncollectible. What adjusting entry will Waterway Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $5000 credit balance before adjustment
Answer:
Estimated uncollectible account at end = $602,000 * 0.03
Estimated uncollectible account at end = $18,060
Bad debt expense to be recorded = Estimated uncollectible - Balance in allowance account
Bad debt expense to be recorded = $18,060 - $5,000
Bad debt expense to be recorded = $13,060
Date Journal Entry Debit Credit
Bad Debt Expense $13,060
Allowance for Doubtful Accounts $13,060
After managers have implemented a decision, they must determine whether it has accomplished the desired result, this is called ______.
Answer:
monitoring
Explanation:
Monitoring is an essential step in tracking the results of an organizational operation. When a decision is implemented in a company, it must be monitored through a systematic collection of data and information that allow the manager to analyze whether the decision is in accordance with the plan, whether the progress is being effective and whether the results are compatible with the planned, being able to make changes to the project if necessary, eliminate bottlenecks and continuously improve organizational operations, achieving greater quality and effectiveness.
A cost that remains fixed over limited ranges of volumes but changes by a lump sum when volume changes occur outside these limited ranges is called a _____ cost. multiple choice fixed variable mixed step-wise curvilinear
Answer:
Variable cost
Explanation:
because sometimes companies set fixed price to other product
Answer:
Stepwise
Explanation:
The correct choice is stepwise cost.
Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1957, is known as . True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. True False Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957
Answer: • Recession
• False
• The unemployment rate increased.
Consumer spending declined.
Explanation:
1. Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1957, is known as (Recession)
Recession is the significant decline in the economic activity which lasts for more than a few months, which results in a fall in GDP, employment, real income, and industrial production.
2. Small ups and downs in real GDP follow a consistent, predictable pattern. - False
It should be noted that small ups and downs in real GDP doesn't follow a consistent, predictable pattern
3.Which of the following probably occurred as the U.S. economy experienced declining real GDP in 1957
The unemployment rate increased.
Consumer spending declined.
A fall in real GDP will lead to a fall in the demand of goods and services as consumer spending reduces. Also, the unemployment rate increases as some workers may be laid off due to reduction in demand.
Jen's Shampoo decides to decrease the sales price for a bottle of shampoo from $28 to $23. The variable costs decrease from $12 to $8 and the total fixed costs decrease from $30,000 to $18,000. The changes result in the number of units sold declining from 4,375 to 4,300 units. If net income was originally $40,000, how much will net income increase or decrease
Answer:
it increases by 6,500
Explanation:
Why would a producer conduct a marginal analysis?
A. To understand the type of taxes paid on a good or service
B. To determine whether a price increase will change what a
consumer will buy
C. To predict the amount of environmental pollution caused by a
manufacturer
D. To suggest a way to package a product so that it causes less
pollution
E
Answer:
B to determine whether a price increase
Explanation:
cuz I said
If price was $1.40 per gallon and increased to $2.00 per gallon, how does quantity of gasoline demanded change
Answer:
Demand decreases.
Explanation:
The demand decreases because the price increase would cause drivers to travel less, meaning that gasoline sales would go down.
