1. Define work
2. What functions does work serve in modern society?
3. Describe the extent and nature of the challenges facing the workplace in the next decade.
4. What can be done about these challenges?
5. Define management.
6. How does the nature of management change according to one's level of and fimction in the organization?
7. Discuss the role of management in the larger societal context. What do you think the managers of the future will be like?
8. Identify what you think are the critical issues facing contemporary management. Explain
Answers
Answer:
1. work is the energy transferred to or form an object via the application of force along a displacement
Related Questions
Which of the following is an unhealthy motivation for donating money to charitable organizations?
O to help build a better world
O to support a cause that you care about
O to do good for others
O to make yourself feel important
Answers
Answer:
to make yourself feel important
The answer would be
O to make yourself feel important
Have a great day!
SELECT AN ORGANISATION OF YOUR CHIOCE.
1.1 SUMMARISE THE NATURE OF BUSINESS
1.2 SUMMARISE THE BUSINESS MODEL
1.3 WHAT ARE THE KEY BUSINESS DRIVERS
2.1 NATURE OF DECISION DESCRIBING WHAT DECISION NEEDED TO BE MADE AND WHY
2.2 SUMMARISE HOW WAS THE DECISION MADE
2.3 ANALYSE THE DECISION MADE AND DESCRIBE IF A QUALITATIVE OR QUANTITATIVE APPROACH WAS USED AND JUSTIFY YOUR RESPONSE
2.4CONFIRM WHY WAS THIS APPROACH TAKEN BY THE BUSINESS AND APPRAISE THIS APPROACH FROM RISK MODELLING PERSPECTIVE
3.1 USING THE SELECTED BUSINESS DECISION FROM ABOVE, IDENTIFY AT LEAST 5 RISKS THAT NEEDED TO BE CONSIDERED TO MAKE THE SAME
3.2 USING THE RISK REGISTER IN THE PREVIOUS SECTION, CONDUCT A QUALITATIVE RISK ANALYSIS FOR THESE 5 RISKS BY PROPOSING THE PROBABILITY OF OCCURRENCE AND IMPACT FOR EACH RISK
3.3 USING A MATRIX INCLUDED IN APPENDIX A, PLOT THE RISKS ON A HEAT MAP AND EXPLAIN WHAT THE MAP MEANS
4.1 USING THE REGISTER DERIVED IN QUESTION 3.1, CALCULATE THE AVERAGE IMPACT (EXPECTED MONETARY VALUE) USING AGGREGATION OF STATIC VALUES
4.2 SUMMARISE WHAT DOES THIS AVERAGE IMPACT VALUE MEANS FOR THE ORGANISATION
5.1 USING THE REGISTER FROM 3.1, CALCULATE THE 5 POSSIBLE EXPECTED MONETORY VALUES USING THE AGGREGATION OF THE RISK DRIVEN OCCURRENCES METHODOLOGY
5.2 DESCRIBE THE RESULT OF THIS METHODOLOGY USING AN APPROPRIATE DIAGRAM
5.3 SUMMARISE WHAT DOES THIS AVERAGE IMPACT VALUE MEANS FOR THE ORGANISATION
Answers
An organization that will be analyzed in this context is Coca-Cola.1.1 Summary of the nature of the business:Coca-Cola is one of the most well-known beverage manufacturers in the world. They create fizzy drinks, juices, and water for a variety of markets.
Their drink portfolio includes more than 200 brands sold in over 200 countries.1.2 Summary of the business model:Coca-Cola Company follows a business model based on creating strong brands that generate significant customer demand.
Their main goal is to build and enhance brand equity. They engage in extensive advertising and promotion campaigns to attract more consumers.1.3 What are the key business drivers:Coca-Cola's essential business drivers are its brand, extensive distribution network, market reach, product innovation, customer satisfaction, and product differentiation.2.1 Nature of decision describing what decision needed to be made and why:The business decision that was taken by Coca-Cola was regarding the selection of the right marketing mix, which is a critical decision.
This allowed them to gain valuable insights into how the consumers perceive their products, which they could use to develop targeted marketing strategies. From a risk modeling perspective, the approach is beneficial because it allows the company to minimize the risks by identifying the issues that consumers may face with their products.3.1 Using the selected business decision from above, identify at least 5 risks that needed to be considered to make the same:1. Competition from other beverage manufacturers2. Consumer preferences and behavior3. Changes in market trends4. Fluctuating economic conditions
5. Changing health and safety regulations3.2 Using the risk register in the previous section, conduct a qualitative risk analysis for these 5 risks by proposing the probability of occurrence and impact for each risk:The following table shows the qualitative risk analysis for the five risks that were identified:RiskProbabilityImpactCompetitionMediumHighConsumer preferences and behaviorHighHighChanges in market trendsLowHighFluctuating economic conditionsHighMediumChanging health and safety regulationsLowMedium3.3 Using a matrix included in Appendix A, plot the risks on a heat map and explain what the map means:The risks were plotted on a heat map, as shown below:The heat map shows that the competition and consumer preferences risks have a higher probability of occurrence and impact, while the changes in market trends and health and safety regulations have a lower probability of occurrence and impact.4.1 Using the register derived in question 3.1, calculate the average impact (expected monetary value) using aggregation of static values:
The five possible expected monetary values are calculated by multiplying the probability of each risk and the range of possible impacts.RiskProbabilityImpactRange of possible impactsExpected Monetary ValueCompetitionMedium$2,000,000-$4,000,000$1,200,000Consumer preferences and behaviorHigh$3,000,000-$5,000,000$3,000,000Changes in market trendsLow$1,000,000-$3,000,000$300,000Fluctuating economic conditionsHigh$1,000,000-$2,000,000$1,200,000Changing health and safety regulationsLow$500,000-$1,000,000$50,000Total Expected Monetary Value$5,750,0005.2 Describe the result of this methodology using an appropriate diagram:The following diagram shows the possible expected monetary values for the five risks:5.3 Summarize what does this average impact value mean for the organization:
The average impact value means that the Coca-Cola Company could potentially lose an estimated $5,750,000 due to the five risks that were identified. This value represents the range of possible impacts that the company may face, given the probability of occurrence of each risk. The company can use this information to identify the risk mitigation strategies that are required to minimize the impact of these risks.
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efforts to protect the consumer cover a wide range of areas but the text focuses on three: product, politics and promotions. True or False ?
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Efforts to protect the consumer cover a wide range of areas but the text focuses on three: product, politics and promotions. given statement are True.
What is 'Product' ?
The object being sold is referred to as a product. A service or an object both qualify as products. It might take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that may be charged.
What do you mean of politics?
Politics is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status.
What do we mean by promotion?
The term "promotion" covers a wide range of activities designed to increase public awareness or promote a product. Promotion in the context of a career is raising a worker's position or rank within a hierarchical structure.
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Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and
the gross method.
August 1 Purchased merchandise from Aron Company for $8,000 under credit terms of 1/10, n/30, FOB destination, invoice dated
August 1.
August 5 Sold merchandise to Baird Corporation for $5,600 under credit terms of 2/10, n/60, FOB destination, invoice dated August
5. The merchandise had cost $4,000.
August 8 Purchased merchandise from Waters Corporation for $7,000 under credit terms of 1/10, n/45, FOB shipping point, invoice
dated August 8.
August 9 Paid $190 cash for shipping charges related to the August 5 sale to Baird Corporation.
August 10 Baird returned merchandise from the August 5 sale that had cost Lowe's $500 and was sold for $1,000. The merchandise was
restored to inventory.
August 12 After negotiations with Waters Corporation concerning problems with the purchases on August 8, Lowe's received a price
reduction from Waters of $700 off the $7,000 of goods purchased. Lowe's debited accounts payable for $700.
August 14
At Aron's request, Lowe's paid $160 cash for freight charges on the August 1 purchase, reducing the amount owed (accounts
payable) to Aron.
August 15 Received balance due from Baird Corporation for the August 5 sale less the return on August 10.
August 18 Paid the amount due Waters Corporation for the August 8 purchase less the price allowance from August 12.
August 19
Sold merchandise to Tux Company for $4,800 under credit terms of n/10, FOB shipping point, invoice dated August 19. The
merchandise had cost $2,400.
August 22
Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Lowe's gave a
price reduction (allowance) of $800 to Tux and credited Tux's accounts receivable for that amount.
August 29 Received Tux's cash payment for the amount due from the August 19 sale less the price allowance from August 22.
August 30 Paid Aron Company the amount due from the August 1 purchase.
Answers
Based on the given merchandising transactions, a journal entry has been prepared below:
Journal EntriesNo Date General Journal Debit Credit
1 Aug 01 Merchandise inventory $6,000
Accounts payable-Aron $6,000
2 Aug 05 Accounts receivable-Baird $4,200
Sales $4,200
3 Aug 05 Cost of goods sold $3,000
Merchandise inventory $3,000
4 Aug 08 Merchandise inventory $5,000
Accounts payable-Waters $5,000
5 Aug 09 Delivery expense $200
Cash $200
6 Aug 10 Sales return and allowances $1,000
Accounts receivable-Baird $1,000
7 Aug 10 Merchandise inventory $500
Cost of goods sold $500
8 Aug 12 Accounts payable-Waters $500
Merchandise inventory $500
9 Aug 14 Accounts payable-Aron $190
Cash $190
10 Aug 15 Cash ($3,200 - $3,136) $3,136
Sales discounts ($3,200 x 2%) $64
Accounts receivable-Baird ($4,200 - $1,000) $3,200
11 Aug 18 Accounts payable-Waters ($5,000 - $500) $4,500
Merchandise inventory ($4,500 x 1%) $45
Cash ($4,500 - $4,455) $4,455
12 Aug 19 Accounts receivable-Tux $3,600
Sales $3,600
13 Aug 19 Cost of goods sold $1,800
Merchandise inventory $1,800
14 Aug 22 Sales return and allowances $600
Accounts receivable-Tux $600
15 Aug 29 Cash ($3,600 - $600) $3,000
Accounts receivable-Tux $3,000
16 Aug 30 Accounts payable-Aron ($6,000 - $190) $5,810
Cash $5,810
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There are hundreds if not thousands of wineries. Each winery tries to emphasize how their product is superior to others, though they are all close substitutes. Barriers to entry are low in this industry, and profits for new entrants are small. Which industrial model best fits the wine market
Answers
Answer: Monopolistic competition
Explanation:
Based on the information given in the question, the industrial model that best fits the wine market is a monopolistic competition.
Monopolistic competition refers to a form of imperfect competition whereby there are many producers that are competing against each other. They sell differentiated products, therefore the products are not perfect substitutes
In a monopolistic competition, the barriers to entry are low in this industry, and profits for new entrants are small. The firms in the industry possess some market power and therefore can charge a price that's higher price than a competitor. It should also be noted that a zero economic profit is earned in the long run.
Wildhorse Co. reported net income of $190,100 for 2019. Wildhorse also reported depreciation expense of 49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 increase in prepaid expenses.
Required:
Prepare the operating activities section of the statement of cash flows for 2019.
Answers
Answer:
Wildhorse Co. reported net income of $190,100 for 2019. Wildhorse also reported depreciation expense of 49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 increase in prepaid expenses.
Explanation:
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Ana Carillo and Associates is a medium-sized company located near a large metropolitan area in the Midwest. The company manufactures cabinets of mahogany, oak, and other fine woods for use in expensive homes, restaurants, and hotels. Although some of the custom, many of the cabinets are a standard size. One such non-custom model is called Luxury Base Frame. Normal production is 1,120 units. Cach unit has a direct labor hour standard of 5 hours. Overhead is applied to production based on standard direct labor hours. During the most recent month, only 1,010 u produced; 5,000 dect lahor haurs were allawed for standard productian, but only 4,500 haurs were used. Standard and actual averhead costs were as follows Actual (1,010 units) (1,120 units) Indirect materials Indirect labor (Fixed) Manufacturing supervisors salaries (Fixed) Manufacturing affice employees salaries (Fixed) Engincering casts Computer costs Electricity (Fixed) Manufacturing building depreciation (Flxed) Machinery depreclation (Fixed) Trucks and forklift depreciation Small tools (Fixed) Insurance Fixed) Praperty taxes 13,600 48,900 25,600 14,800 30,700 11,400 2,800 9,100 3,400 1,700 800 57D 340 $163,710 S 14,000 58,000 25,000 14,200 28,400 11,400 2,800 9,100 3,400 1,700 1,390 570 340 $170,500 Total(a) Determine the overhead application rate. (Round answer to 2 decimal places, e.g. 15.75.) Overhead application rate 29.23 per direct labor hour Attempts: 1 of 3 used ? (b) Determine how much overhead was applied to productian. (Round answer to Applied overhead decimal places, e.g. 1,575.)
Answers
Answer:
a. $29.23
b. $146,150
Explanation:
a. The computation of overhead application rate is shown below:-
Overhead application rate = Total standard overhead ÷ Total standard hours
= $163,710 ÷ (1,120 × 5)
= $163,710 ÷ 5,600
= $29.23
So, for determining the overhead application rate we simply divide the total standard overhead by total standard hours.
b. The computation of overhead was applied to production is shown below:-
Applied overhead = Standard hours for actual production × Overhead application rate
= 5,000 × $29.23
= $146,150
So, for determining the applied overhead we simply divide the standard hours for actual production by overhead application rate
Globalization forces small businesses to compete worldwide. The result of globalization is that operation manager (OM) or owner must do which of the following to stay competitive:
Answers
Answer:
- Making sure the cost of their asset management is as low as possible
- Maximize their product delivery
- Making sure that their price of operation is efficient
- making sure price of their product is competitive
Explanation:
Due to globalization, businesses are forced to compete on foreign markets that they might not be familiar with. In such situations, lowering cost of production while maintaining the quality of their products is the best thing that they can do to maintain a healthy profit margin. This can be done by lowering the cost that they need to make maintenance of their assets and minimizing the cost they need to acquire materials.
On top of lowering cost of production, they also need to provide better services and reasonable price range for the costumers. They need to put a good customer service call along with on time delivery to keep customers happy.
How might a companies mission, vision, or values support or detract from it’s competitive advantage and customer value proposition?
Answers
A company's mission, vision, and values can significantly impact its competitive advantage and the customer value proposition.
What is competitive advantage?A competitive advantage is the unique set of qualities or attributes that allow a business to outperform its competitors. This could be anything from proprietary technology, access to resources or distribution channels, superior customer service, or a strong brand reputation. Essentially, it is what makes a company stand out and succeed in its industry. A competitive advantage enables a business to generate more revenue, acquire and retain customers, and ultimately achieve a greater market share. It is important for businesses to identify and cultivate their competitive advantages to maintain their position in the marketplace and continue to grow. However, it's worth noting that competitive advantages are often short-lived, and businesses must continually innovate and adapt to maintain their edge over time.
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Roles and responsibility of central management(business policy)
Answers
Answer:
The Four Functions of Management: What Managers Need to Know
Planning. One main role of a manager is creating a plan to meet company goals and objectives. ...
Organizing. ...
Leading. ...
Controlling. ...
How to Develop Key Management Skills. ...
Work to Develop Your Management Skills With an MBA.
T/F boeing's development of the 787 dreamliner is an example of a company obtaining a competitive advantage through quick response.
Answers
The statement "Boeing's develop-ment of the 787 Dreamliner is an example of a company obtain-ing a competitive advantage through quick response." is True.
The Boeing 787 Dreamliner is an all-new, super-efficient family of commercial air-planes that brings big-jet ranges and speed to the mid-dle of the market. The Boeing 787 Dream-liner is an American wide-body jet airliner developed and manu-factured by Boeing Commercial Airplanes.
The air-plane's un-paralleled fuel efficiency and range flexi-bility enables carriers to profit-ably open new routes as well as optimize fleet and net-work perform-ance. And for their passengers, an experience like none ot-her in the air, with mo-re comfort and less fatigue.
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What will produce more accurate results when giving a survey?
A. Using the word "frequently" in a question
B. Creating face-to-face interviews
C. Adding boxes to check for answers
D. Creating an open questions
Answers
Answer:
Option B; Creating face-to-face interviews
Explanation:
Research has shown that face-to-face interviews tend to produce more accurate results when giving a survey. So the correct answer is option B.
What is the alignment and coordination of multiple activities in an organization?
Group of answer choices
management
sustainability
business culture
philanthropy
Answers
The alignment and coordination of multiple activities in an organization is typically associated with the concept of management
What is management?
Management involves overseeing and organizing various activities within an organization to achieve its goals and objectives efficiently and effectively
It includes activities such as planning organizing coordinating and controlling resources and efforts to ensure that different parts of the organization work together cohesively towards common goals Therefore among the options provided "management" best represents the alignment and coordination of multiple activities in an organization
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Your employer contributes $55 at the end of each week to your retirement account. The account will earn a weekly interest rate of .17 percent. How much will the account be worth when you retire in 25 years?
Answers
Answer:
FV= $262,014.43
Explanation:
Giving the following information:
Weekly deposit= $55
Interest rate= 0.0017
Number of periods= 25*52= 1,300
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= weekly deposit
FV= {55*[(1.0017^1,300) - 1]} / 0.0017
FV= $262,014.43
State and EXPLAIN three methods of paying workers
Answers
Answer:
three methods employers use to pay the employees are salary, commission, and hourly wage.
Explanation:
salary is a fixed amount that you get for working per month
commmission is getting a percentage of the total that you sell
hourly wage is getting paid for each hour that you work
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Your firm has sales of $47,000, current assets of $5,100, current liabilities of $6,200, net fixed assets of $51,500, and a profit margin of 5 percent. The firm has no long-term debt and does not plan on acquiring any. The firm does not pay any dividends. Sales are expected to increase by 7 percent next year. If all assets, short-term liabilities, and costs vary directly with sales, how much additional equity financing is required for next year
Answers
Answer:
$1,013.50
Explanation:
Projected assets = (Current assets + Fixed assets) * 1.10
Projected assets = ($5,100 + $51,500) * 1.07
Projected assets = $60,562
Projected liabilities = Current liabilities * 1.07 = $6,200 * 1.07 = $6,634
Current equity = Current assets + Fixed assets - Current liabilities = $5,100 + $51,500 - $6,200 = $50,400
Projected increase in retained earnings = Sales * 5% * 1.07 = $47,000 * 5% * 1.07 = $2,514.50
Equity funding need = Projected assets - Projected liabilities - Current equity - Projected increase in retained earnings
Equity funding need = $60,562 - $6,634 - $50,400 - 2,514.50
Equity funding need = $1,013.50
So therefore, the equity funding need is $1,013.50
a retailer completes a physical audit of the store’s inventory. the total inventory was 100,000. accounting books say there should be 110,00 in inventory. whats amount of the inventory variation
Answers
Answer:
Explanation:
The amount of inventory variation is the difference between the actual inventory count and the expected inventory count according to the accounting books. In this case, the actual inventory count is 100,000 and the expected inventory count is 110,000. Therefore, the inventory variation is:
110,000 - 100,000 = 10,000
So the inventory variation is 10,000 units.
create a development plan for a business management student
Answers
What is a Professional Development Plan?
A Professional Development Plan (PDP), also known as an Employee Development Plan or an Individual Development Plan, is used to document career goals and set out a strategy on how to meet them.
Creating a PDP takes time and planning. But, writing and implementing a PDP can help you to identify and develop the professional skills needed to reach your goals, and can keep you on the track to success. It’s an important process that helps you achieve your potential, reach your goals and take charge of your professional development.
Now is the time to start thinking about where you want your future to take you.
How to Write a Professional Development Plan
There are 9 steps to completing a PDP:
Assess where you are now.
Identify your specific career goals.
Gather information.
Identify what professional skills you already have and which you need to work on.
Choose how you will accomplish your goals.
Develop a timeline for accomplishing your specific targets and goals.
Write it all down.
Evaluate your plan.
Measure your progress.
Answer:
1)Set your destination. ...
2)Focus your approach. ...
3)Define your marketing channels. ...
4)Choose KPIs and create dashboards to keep you on track. ...
5)Define your sales process to align with your customer's needs. ...
6)Determine resource needs. ...
7)Share your business development plan with stakeholders.
TRUE/FALSE. the monopolist's marginal revenue is sometimes more and sometimes less than the price of its good always less than its the price of its good beyond the first unit
Answers
The monopolist's marginal revenue is sometimes more and sometimess less than the price of its good always less than its the price of its good beyond the first unit is FALSE.
The marginal revenue of monopolists is always less than its price because the price of good always less than the price of the first unit of its good.
Monopolist is a firm operates in monopolistic market. This kind of firm plays as a single supplier for the markett. hence, the market demand curve represents its product's demand curve. Many monopolist is operating under the government's permissions.
Because the market demand curve repesents the monopolists demand for products, the firm has to lower its price to attract market to purchase more units of product. By lowering the product's price, monopolist will be able to sell more unit but produce less marginal revenue and its marginal revenue will be less than price.
Because of this concept, marginal revenue curce of monopolist lies below the demand curve. Since demand reflects the marginal social benefit and magrinal revenue reflects marginal private benefit, Monopolist produce greater marginal social benefits than marginan private
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Which statement best describes the trait of being tactful? A. ability to be humble in every situation B. ability to remain stress free C. ability to deal with others, especially in difficult situations D. ability to comply with given instructions E. ability to arrive at work on time
Answers
Answer:
C) Tactful means to be sensitive, thoughtful, and just constantly do the right thing each time. Thus, if you are able to deal with others properly, especially in complex and difficult situations, it shows that you are thoughtful of others feelings and do the right thing.
The correct option is C.
What is a tactful personality?
Tact is the ability, to tell the truth, and to consider other people's feelings and reactions. It allows you to give difficult feedback, communicate sensitive information, and say the right thing to preserve relationships.
What is tactful assertiveness?Being tactful means acting with sensitivity and respect. While tact requires a certain amount of thoughtfulness, it doesn't come at the expense of assertiveness. Sometimes assertiveness is incorrectly thought to be the same as aggressiveness.
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Should firms require higher rates of return on foreign projects than on identical projects located at home? Explain.
Answers
Mark wants a new car that costs $30,000. He only has $500 in his savings account and $300 in his checking account. Which financing option should he choose?
Answers
ANSWER: B) Lease the car with a 0 percent down payment.
EXPLANATION: The car Mark wants to buy has a price of $30,000 whereas his savings account has $500 and checking account has $300 which adds up to $800. The amount of money Mark has is only 2.66% of the cost of the car.
If he tries for option A which is buying the car with 10% down payment, then it would not have been possible as 10% of the car price would be $3,000. Mark at this moment will be short of money by $2,200.
If he tries for option B which is leasing with 0% down payment, Mark will be able own the car without paying any money and also saving the entire amount that his savings account and checking account has.
If he tries for option C which is leasing by paying 35% down payment, Mark will need $10,500. He will run short of money by $9,700.
If Mark tries for option D which is purchasing the car by paying 20% down payment, then he will need $6,000 which is impossible for Mark even if he pulls in money from both the accounts. He will run short of money by $5,200.ANSWER: B) Lease the car with a 0 percent down payment.
EXPLANATION: The car Mark wants to buy has a price of $30,000 whereas his savings account has $500 and checking account has $300 which adds up to $800. The amount of money Mark has is only 2.66% of the cost of the car.
If he tries for option A which is buying the car with 10% down payment, then it would not have been possible as 10% of the car price would be $3,000. Mark at this moment will be short of money by $2,200.
If he tries for option B which is leasing with 0% down payment, Mark will be able own the car without paying any money and also saving the entire amount that his savings account and checking account has.
If he tries for option C which is leasing by paying 35% down payment, Mark will need $10,500. He will run short of money by $9,700.
If Mark tries for option D which is purchasing the car by paying 20% down payment, then he will need $6,000 which is impossible for Mark even if he pulls in money from both the accounts. He will run short of money by $5,200.
1. Demonstrate understanding of the value of auditing in an economy and theories explaining the demand for auditing;
2. Discuss the role of auditing and other assurance services in society and the public’s expectation for these services.
3. Describe issues associated with the audit of public sector, not-for-profit and small business entities.
4. Critically evaluate the professional, legal, ethical and regulatory framework within which audits and other assurance engagements are carried out,;
5. Discuss current developments in auditing.
6. Audits can be categorized into different types: Like; (1) financial statement audits, (2) compliance audits, (3) operational audits, and (4) forensic audits.
Required: For each of the following descriptions, indicate which type of audit (financial statement audit, compliance audit, operational audit, or forensic audit) best characterizes the nature of the audit being conducted. Also indicate which type of auditor (external auditor, internal auditor, government auditor, or forensic auditor) is likely to perform the audit engagement.
a. Determine the fair presentation of Ajax Chemical’s balance sheet, income statement, and statement of cash flows.
b. Review the payment procedures of the accounts payable department for a large manufacturer.
c. Examine the financial records of a division of a corporation to determine if any accounting irregularities have occurred.
d. Evaluate a company’s computer services department in terms of the efficient and effective use of corporate resources.
e. Audit the partnership tax return of a real estate development company.
f. Investigate the possibility of payroll fraud in a labor union pension fund.
g. Examine contractual agreements with bankers and other lenders to be sure the company is complying with legal requirements
Answers
1. Auditing plays important role by providing assurance and credibility to financial statements which enhances investor confidence and promotes efficient allocation of resources.
Why is auditing important for the economy?Auditing is essential for the economy as it helps maintain trust and confidence in the financial information reported by businesses. By conducting independent assessments of financial statements, auditors provide assurance to stakeholders that the information is reliable and accurate.
This assurance is particularly valuable for investors, creditors, and other parties who rely on financial statements to make informed decisions. Auditing also helps detect and prevent fraud, mismanagement, and other financial irregularities and thereby safeguarding the integrity of the financial system.
2. Auditing and other assurance services play a vital role in society by providing independent evaluations of financial statements and other information enhancing the reliability and credibility of financial reporting.
3. Issues associated with the audit of public sector, not-for-profit, and small business entities include unique reporting requirements, limited resources etc.
4. The professional, legal, ethical, and regulatory framework surrounding audits and assurance engagements should be critically evaluated to ensure independence, competence, integrity, adherence to standards, and the protection of public interest.
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Which answer best defines employee benefits?
Employee benefits are the total income you receive over your lifetime.
Employee benefits include any education you acolere beyond high school.
Employee benefits are benefits related to a specific trade.
Answers
Answer: Employee benefits are non-salary compensation granted by an employer .
Explanation:
Just did it right now and got it right :)
Answer: the guy above me is right
Explanation:
do Businesses operate separately from society as a whole.
Answers
Businesses do not operate separately from society as a whole. In fact, businesses are an integral part of society and their operations can have significant impacts on various aspects of society, including the economy, the environment, and social issues.
Firstly, businesses are a key contributor to the economy of a society. They generate income, create jobs, and drive innovation, which in turn fuels economic growth and development. The success of businesses is closely tied to the health and well-being of the economy, and vice versa.
Secondly, businesses can have significant impacts on the environment. Their operations can result in pollution, depletion of natural resources, and other negative environmental effects. As such, businesses have a responsibility to operate in a sustainable manner, reducing their environmental impact and promoting sustainable practices.
Thirdly, businesses can also have an impact on social issues such as inequality, discrimination, and human rights. For example, businesses may choose to operate in a way that promotes diversity and inclusivity, or they may take steps to ensure that their operations do not contribute to human rights abuses or other negative social impacts.
In conclusion, businesses are an important part of society and their operations are closely interconnected with various aspects of society. As such, businesses have a responsibility to operate in a way that takes into account their impact on society as a whole, including the economy, the environment, and social issues. This is why many businesses are increasingly adopting corporate social responsibility (CSR) policies and practices, which aim to ensure that their operations are sustainable, socially responsible, and contribute positively to society.
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Health and safety regulations in the labor market:
Multiple Choice
a)are always efficient because they improve working conditions.
b)should be evaluated by comparing their costs to their benefits.
c)are necessarily inefficient if they impose additional costs on employers.
d)can lead to an increase in frictional unemployment
Answers
Answer:
a)are always efficient because they improve working conditions.
Explanation:
The Health and safety regulations assign a legal duty to employers to ensure that employees remain safe and healthy at the workplace. The regulations demand that as reasonably practicable as possible, the employers should provide mechanisms to protect and promote employee welfare and safety.
Under the health and safety regulations, the employer must ensure any potential hazard of work-related nature is eliminated or controlled. Employers must formulate a written health and safety policy statement detailing how they manage health and safety in the workplace. The policy statement, when implemented, goes a long way to improve employees working conditions.
e United States and China each produce steel and toys.
The following are the production possibility schedules for each nation.
Answer the questions below based on the PPF schedules.
China
A
B
C
D
E
Steel
8
6
4
2
0
Toys
0
10
20
30
40
United States
A
B
C
D
E
Steel
16
12
8
4
0
Toys
0
12
24
36
48
Which country has absolute advantage in the production of steel?
Which country has absolute advantage in the production of toys?
Which country has comparative advantage in the production of toys?
Which country has comparative advantage in the production of steel?
If the two countries specialize and trade with each other, which country will import steel?
Answers
What are the five steps in the marketing research approach?
Answers
Answer: define the problem or opportunity, develop your marketing research plan, collect relevant data and information, analyze data and report findings, and put your research into action
Explanation: Just trust me this is a great way for marketing approaches
QUESTION ONE Suppose Genesis chooses between spending his money on soccer matches at Ndola stadium and on watching movies. With the aid of a diagram, explain the substitution, income and total effects when the price of movies falls. (Assume that movie ticket is an inferior good for Genesis) [10 marks]
Answers
Answer:
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Explanation:
yes I will
external factors that can affect reatail industry
Answers
An external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
What do you mean by the retail industry?All businesses that offer products and services to consumers are considered to be in the retail sector. Various retail sales and store types can be found all throughout the world, including grocery, convenience, discount, independent, department, DIY, electrical, and specialty shops.
Location, marketing, shop design and appearance, service and selection, and bundle selling are the five pillars of retail success.
The danger of supply chain disruption and the environmental impact of using raw materials are the two key factors that have an impact on retail.
Therefore, an external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
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