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Elanso [62]
2 years ago
8

Define numeric records management and list three reasons for storing records by the numerical method.

Business
1 answer:
Kryger [21]2 years ago
7 0

Numeric record management is a numeric storage technique that utilizes the last two or three digits of each number as the primary division where the record is filed. In this system, records are arranged based on numbers. This system is essential in health care data handling and employee records storage.

The first reason for storing records by the numeric technique is that allows for keeping confidential records, especially in organizations. This method identifies specific records while maintaining confidentiality. It can be of great assistance when handling medical data for patients and employee records because it applies the HIPAA rules.

Numeric record management ensures high accuracy where a high volume of files can be retrieved and re-filed frequently. A color code label is applied and it ensures file retrieval and re-shelving faster and with less confusion. The first, middle, and last number changes together with the color code. The color gives a visual clue which boosts the speed and efficiency of the filling process.

Management is the management of an organization, such as a corporation, non-profit organization, or government agency. This is the art and science of managing company resources.

t guides the group's efforts towards achieving specific, predetermined goals. “Management” is the process of cooperating with and working through others to effectively achieve organizational goals by using limited resources efficiently in a changing world.

Help Group Achieve Goals - Organize production factors, gather and organize resources, and effectively integrate resources to achieve goals. It directs the group's efforts toward achieving pre-established goals.

Learn more about  management here

brainly.com/question/1276995

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Option D. $50,000.    

Explanation:

We can solve it by two methods:

Method 1: Conceptually

The 30,000 stock options has vested period of 3 years, which means 10,000 stock options a year. Furthermore, according to accrual concept application in the employee benefits international standard on accounting, the increase in liability for compensating other party for its services is increase in expense. Here, increase in expense is the option fair value which is $5. So the Compensation expense is:

Compensation expense = $5 per stock option * 10,000 Stock Options per year

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Method 2: Formula Method

As we know that:

Compensation expense for 2018 = Total compensation / Vested period

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Total compensation = $5 stock option * 30,000 options

Vested period is 3 years

By putting values, we have:

Compensation expense = (30,000 × $5)/3 years

Compensation expense = $50,000

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