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2 years ago

Which are 3 common misconceptions users of an income statement may have?

1 answer:

3 0

The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.

One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.

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According to the path-goal theory of leadership, the level of involvement a manager utilizes should (1) be the same for all empl

harkovskaia [24]

Answer:

1. None of the above

2. All of the above

Explanation:

According to the path-goal theory of leadership, the level of involvement a manager utilizes should (1) be the same for all employees in the department, (2) be either low or high management involvement regardless of the circumstances, and (3) not be influenced by subordinates' expectations. Which statements are correct?

NONE OF THE ABOVE

The Path-Goal theory of leadership stipulates that managers should adapt a leadership style that is employee oriented for the purpose of organizational goal achievement.

This is an ability issue. When a manager's performance deteriorates because manager's ability has deteriorated. The steps to be taken will be in the order below:

(1) Determine if the resources are adequate,

(2) retrain the individual, and

(3) redesign the job.

All of the above steps are correct in that order

3 0

3 years ago

Discuss how the JIT concept differs between manufacturing and service companies.

mylen [45]

Similar to manufacturing, services use methods that add value to the raw materials required to make the finished product. JIT emphasizes the process rather than the end result. Therefore, it may be applied to any set of processes, whether they are involved in manufacturing or providing services.

In the context of the industrial and service industries, the Just in Time (JIT) system: Companies use just-in-time (JIT) inventory strategies to boost productivity and cut waste by only ordering products when they are actually needed for manufacturing, which lowers inventory expenses.

Between service and manufacturing organizations, there are five key differences: the tangible nature of their output; production on demand or for inventory; production tailored to the needs of a particular customer; labour-intensive or automated operations; and the requirement for a physical production location.

In reality, though, service and industrial firms have a lot in common. Many manufacturers have their own service departments, and both industries need trained workers to run a successful organization.

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4 0

2 years ago

Charles and nancy have decided to sell their family business and would like to transfer ownership to the next generation. which

kramer

The best method to make money would be the best

5 0

3 years ago

In business, which of the following tones should be part of every written communications? a. Funny b.Vague c.Sarcastic d.polite

dlinn [17]

Answer:

Polite

Explanation:

8 0

3 years ago

For each hypothetical scenario, indicate whether the tariff described is more likely a protective tariff or a revenue tariff.

LenaWriter [7]

Answer:

a. In response to concerns from business leaders, a legislator has designed a new tariff on raw materials used by many manufacturing firms. The legislator felt the new tariff was necessary based on input from the private sector that new discoveries of natural resources abroad would threaten to put domestic producers of raw materials out of business. To meet this goal, this tariff will charge $1,500 on every crate of the imported goods plus an additional 6% of the total value of the imported goods.

protective tariff since it is designed to protect domestic industries from competition of out of state producers. It is designed to increase the price of imported goods.

b. In an effort to balance next year's budget, a senator has proposed a new tariff. She proposed the new tariff with a goal of raising a total of $100 million, To meet this goal, this tariff will charge $2,000 on every ton that is imported.

revenue tariff since its main purpose is to increase government revenue, not to protect domestic industries.

7 0

2 years ago