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grandymaker [24]
2 years ago
11

An inventory turnover analysis is useful to the internal auditor because it may detect:_____.

Business
1 answer:
Vika [28.1K]2 years ago
4 0

An inventory turnover analysis is useful to the internal auditor because it may detect <u>the existence of obsolete merchandise.</u>

Inventory that has reached the end of its useful life is called as obsolete inventory. It has been a while since this inventory was utilized or sold, and it is not anticipated that it will be in the near future. This kind of inventory must be written off or written down and can result in significant losses for a business.

<h3>What is turnover analysis?</h3>

The dynamics of people leaving or remaining in an organization are evaluated using turnover analysis to:

  • how many workers quit
  • The causes of people's departures and stays
  • The expense of turnover caused by a lapse in company continuity
  • How to reduce the danger of present employees leaving the company through turnover

The projected expense of replacing a paid worker ranges from 6 to 9 months of that worker's salary and includes both the direct expense of hiring a replacement and the indirect expense of lost productivity.

The ability of the company to accomplish its objectives and provide for its consumers may be compromised by high turnover. The customer experience can change noticeably even in response to small increases in turnover.

Employee turnover costs are frequently unforeseen and hence not accounted for.

Learn more about inventory turnover

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Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plot
olya-2409 [2.1K]

Answer:

Political and Legal

Explanation:

Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the U.S. This is an example of how <u>political and legal</u> forces affect the marketing environment.

Business organisations operate within a political system and legal framework. Political factors determine economic policies like taxation and regulations. Business decisions are subject to, and are affected by political and legal factors.

Governments formulate a series of legislations to monitor business activities and protect consumer and social interests.

Such laws would either create new opportunities or threats for the businesses in existence.

In the Scenario above Hoffman-LaRoche and BASF AG must have violated regulations that protect consumer interests put in place by the government by wanting consumers to pay too high for such necessities as vitamins and huge fines have been imposed on them.

7 0
3 years ago
What do you believe are the two most significant components of the medical billing workflow?
monitta

Answer:

Explanation:

Six critical components for medical calculation (the first two are the most important):

1: Eliminate confusion that it is really an invoice.

Insured patients often receive two service-related communications - a certificate of benefit from an insurance company (EOB) and an invoice from a health care professional. EOBs usually include service history, work done, who the provider is, the amounts allowed under the insurance plan, adjustments, deductions and patient liability.

2: Make sure the patients know what the invoice is.

For recurrent patients, there may be confusion as to what service or design the bill is about. Specify the date of service, medical care, and services provided so that the patient can see the amount paid.

3: Provide clear line items showing prepaid patient payments (co-payments) and contributions from the insurance company.

Explain to patients what credits are already used in the invoice. This can help insurers understand what they contribute, personal responsibility, and promote timely payments.

4: Provide invoices as patients wish to receive.

For some patients, paper invoices may be the method they choose to consult with health care providers. For others, electronic invoices may be more appropriate. Paper sheets can offer patients the opportunity to pay by check, write their payment card information, or use an online portal that supports one-time guest payments. Electronic invoices can reduce the cost of printing and shipping paper invoices, eliminate delays in document invoices, and provide direct access to online portals where they can edit and manage their billing practices.

5: Provide patients with different options to pay.

As patients prefer paper or electronic invoices, they have choices about how they want to pay. Some love the convenience of paying with a credit card, while others may opt for cash, check or debit card transactions. From billing solutions that support multiple payment methods and payment channels to credit card transactions on mobile devices, one billing solution can increase your ability to pay on time.

6: Help patients along the way.

No matter how much a health worker strives to meet the needs of his patients, patients will have questions regarding referral reports. Useful support professionals (both online and by phone) can provide easy access, help patients better understand their laws and encourage their timely payment.

5 0
3 years ago
Product mix depth refers to the ________. Group of answer choices ways in which the various product lines are related total mark
Ivanshal [37]

Answer:

number of versions offered for each product in the line

Explanation:

Line depth is all the numbers of sub-categories that a category has. In this question the nuber of versions which each product line has is the line depth. All the sub-categories or sub-products is considered as the depth of that product line. Whereas product mix is the number of product offered by the company .

8 0
3 years ago
________ refers to searching for information that is not immediately evident and sorting through that information to interpret w
igomit [66]

Answer:

C) Environmental scanning

Explanation:

Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.

The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.

Generally, the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.

Hence, the search for an information that isn't immediately evident and sorting through or analyzing that information to interpret what is important to an organization is generally referred to as environmental scanning.

3 0
3 years ago
What are forms of phishing?
Afina-wow [57]
Deceptive, malware-based, session hijacking, and data theft are all forms of phishing,
5 0
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