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Reil [10]
2 years ago
6

the process of comparing outputs to previously established standards to determine if corrective action is needed is called

Business
1 answer:
nadezda [96]2 years ago
8 0

When we compare outputs to previously established standards so that we can determine if there is a need for corrective action, this is called <u>Controlling</u>.

<h3>What is controlling?</h3>

Controlling is a process in business where the company looks at outputs and compares them to the standards that they had previously established for the purpose of evaluating output.

The importance of this is to determine if there is a need to take corrective action to ensure that those outputs meet the established standards.

Find out more the control process at brainly.com/question/14051119

#SPJ1

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QS 7-13 Note receivable interest and maturity LO P4 On December 1, Daw Co. accepts a $36,000, 45-day, 10% note from a customer.
asambeis [7]

Answer and Explanation:

The journal entries are shown below:

1. Interest Receivable $300($36,000 ×  10% x 30 ÷ 360)  

         To Interest Revenue $300

(Being accrued interest revenue is recorded)

2. Cash $36,450

          To Interest Receivable A/c $300

          To Interest Revenue A/c $150 ($36,000 ×  10% x 15 ÷ 360)    

          To Notes Receivable A/c $36000

(Being note maturity date it is honoured is recorded)

6 0
3 years ago
Lewelling Company issued 101,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,100 hour
GenaCL600 [577]

Answer:

Paid in capital excess of par is $$309,000

Explanation:

<u>Journal Entries</u>

Debt: Legal services (4,100 hours × $100 per hour)  = $410,000

Credit: Common stock (101,000 shares × $1 par)  = $101,000

Credit: Paid-in capital - excess of par (Remainder)  = $309,000

To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)

In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.

Paid in capital excess of par is $$309,000

3 0
3 years ago
Does the firm need to alter its choices of C and L to decrease​ cost? A. ​Yes, they need to increase Upper Lincrease L which wou
kherson [118]

Answer:

Yes, they need to increase Upper L which would cause MP Subscript Upper L to decrease and MP Subscript Upper C to increase.

Explanation:

In the specific problem outlined above, the company wants to maximize its revenue and ensure that the production cost is as low as possible for the given quantity of land, cement and the available labor. In order to ensure that this is possible, the company must try to increase the upper L so that there would be an increase in MP (subscript upper C) and a decrease in MP (subscript upper L).

4 0
3 years ago
Innovative Creations Corporation is designed along functional lines. New product development is very slow and the process is pla
fenix001 [56]

Answer:

A) Coordiantion, is the correct option

Explanation:

Bad coordination in a company leads to a decrease in productivity. Coordination between departments is important, lack of it may have adverse effects may it be sales of production. The functional and management training imparted by the company is a way to make the teamwork in coordination so the operation of the business is smooth. The solution to the communication gap is to have open system communication with all the departments, interdepartmental communication is very very crucial.

5 0
3 years ago
When paid interest is started as a dollar amount is called​
Igoryamba

The answer is Finance

4 0
3 years ago
Read 2 more answers
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