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Stella [2.4K]
1 year ago
10

what is the difference between procedures and rules? can some rules be eliminated when solid procedures are in place? discuss.

Business
1 answer:
iragen [17]1 year ago
8 0

Rules are made so that people behave in a particular manner whereas, procedures are meant to guide about how to do something.

Procedures are the standard steps used to carry out tasks in an organization. They were created for repetitive tasks. They offer instructions regarding how to carry out a task. In speaking, procedures are inflexible and provide no room for inventiveness. It eliminates ambiguity from the work and provides it a clear structure.

Rules are specific instructions that define what must be done and what shouldn't be done. They were created in order to preserve, govern, and manage the workplace. They were inflexible and lack adaptability. Strict disciplinary measures are applied when rules are broken. It reflects decisions about what needs to be done and what cannot be done.

No, rules cannot be eliminated when solid procedures are in place because they determine the behavior or manner in which things should be done.

Learn more about rules and procedures here:

brainly.com/question/28361947

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The investments of Steelers Inc. include a single investment: 42,730 shares of Bengals Inc. common stock purchased on September
Inga [223]

Answer:

Explanation:

A. The journal entries are shown below:

On September 12

Investment A/c - Bengals Inc A/c Dr $598,220   (42,730 × $14)

          To Cash A/c                                     $598,220

(Being the acquired investment including brokerage commission is recorded)

On December 31

Unrealized gain or loss on available-for-sale securities A/c Dr $85,460            

            To Valuation allowance for available-for-sale securities $85,460

(Being decline in share value is recorded)

The computation is shown below:

= 42,730 shares × ($14 per share - $12 per share)

= 42,730 shares × $2 per share

= $85,460

B. The unrealized gain or loss for available-for-sale investments is shown in the Stockholder equity section on the balance sheet. It is to be shown in the negative item in the equity section.

7 0
3 years ago
Dennis sells short 100 shares of ARC stock at $152 per share on January 15, 2020. He buys 200 shares of ARC stock on April 1, 20
makkiz [27]

Answer: See explanation

Explanation:

a. What are the amount and nature of Dennis’s loss upon closing the short sale?

Sales consideration = $100 × $152 = $15200

Less: Closing Value of Short sales = 100 × $190 = $19000

Short term capital loss = $3800

b. When does the holding period for the remaining 100 shares begin?

The holding period for the remaining 100 shares begin on May 2, 2020, which was when the short sale was closed.

c. If Dennis sells (at $27 per share) the remaining 100 shares on January 20, 2017, what will be the nature of his gain or loss?

Sales consideration = 100 × $27 = $2700

Less: Base value = $19000

Short term capital loss = $16300

4 0
3 years ago
If the price of milk rose to $6 per gallon, consumers would purchase fewer gallons of milk than if the price were $2 per gallon.
Law Incorporation [45]

Answer:

the law of demand

Explanation:

as the law of demand states that the higher the price the lower the quantity that will be demanded, and the lower the price the higher the quantity that will be demanded

4 0
3 years ago
increaingly good leaders seek to transfer some of their authority to subordinates through a process known
ipn [44]
Increasingly good leaders seek to transfer some of their authority to subordinates through a process known DELEGATION.
6 0
3 years ago
Who proposed that population size increases at a faster rate than food supplies?
sergiy2304 [10]
The answer to this is Thomas Malthus.

Thomas Malthus was an english cleric and scholar, influential in the feilds of political economy and demography. He came up of the theory about population growth. He argued that population multiplies geometrically and food arithmetically.
8 0
3 years ago
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