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MrRissso [65]
3 years ago
12

What do we stand to gain from applying planning principles to supposedly routine activitiesif we believe that planning is so imp

ortant, why, knowing we do this, do we so often rush directly into doing without pausing to plan?
Business
1 answer:
Sever21 [200]3 years ago
6 0

Answer:

Different personal and cultural traits can explain why even though we know that planning our activities help a lot, we rarely do it.

Japanese society is extremely structured and they plan everything. There incredible economic success is the result of that. Once I was travelling on the same tour bus as a group of Japanese tourists, and their tour guide requested them to give him their schedules since being on vacations meant not following a plan. The tourists got all anxious and nervous because they were going to do something different, which was scary for them.

That day I started to question myself as to why I rarely plan things, and on the next days I really tried to do it, but I failed. One of the reasons I failed was that I was the only one planning what to do, no one else at work was. I felt like Cameron Diaz when she was making plans about where she should be planning on how to have fun. It was really boring, that is the reason why Japanese don't have children or even girlfriends, its easier to plan what to do with a doll.

There is something nice and good about being spontaneous, although sometimes I still feel that I need to plan a little more.

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Tex's Manufacturing Company can make 100 units of a necessary component part with the following costs: Direct Materials $120,000
Thepotemich [5.8K]

Answer:

Is better to continue the production of the component as currently is taking allocated overhead from other department. Buying will inccur in a financial disadvangate of 25,000

Explanation:

<u>Make</u>

Direct cost:

DM                   120,000

DL                      25,000

VMO            <u>      45,000  </u>

Total Variable:  185,000

Tracable fixed cost: 5,000

Total cost:   190,000

<u>Buy option:</u>

purchase 190,000

unavoidable cost: (30,000 - 5,000) = 25,000

Total cost: 215,000

3 0
3 years ago
An analyst with a national ratings agency is concerned about a firms ability to meet its short term obligations. To evaluate the
Semmy [17]

Answer:

a. Balance Sheet

Explanation:

The balance sheet reports the total assets, total liabilities and stockholder equity.  

The total asset is comprised of the current asset, fixed assets, and the intangible asset

The total liabilities comprise of current liabilities and long term liabilities

The aim to make the balance sheet is to analyze the liquidity, financial performance, position of the company

Whereas the cash flow statement shows the inflow and outflow of cash and the income statement records total revenues and total expenditures.  

8 0
3 years ago
Determine whether each scenario is an example of tax avoidance or tax evasion. Andrea keeps a record of all her business-related
Brums [2.3K]

Answer:

1. Tax avoidance

2.Tax avoidance

3.Tax evasion

Explanation:

Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.

Examples of tax avoidance are;

1. Andrea keeps a record of all her business related expenses.

2. Daniel claims the amount of interest paid for his mortgage as tax deductions.

Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.

Example of tax evasion is ;

3. Christian did not report the tips he earned on his tax return.

7 0
3 years ago
The accounting records of Compass Point Wireless include the following as of December​ 31, 2016​:
uysha [10]

Answer:

1,               Compass Point Wireless

                  Balance sheet (partial)

Current Liabilities:                                $

Accounts Payable                            71,000

Interest Payable                               17,000

Salaries Payable                               10,500

Unearned Revenue                          2,400

Current Portion of Bonds payable  24,000

Total current Liabilities                 $ 124,900

Long term Liabilities                               $

Mortgage Payable                              80,000

Bonds Payable                                    64,000

Premium on Bonds Payable               10,000

Total long term liabilities                 $154,000

Total liabilities = Total current Liabilities + Total long term liabilities

=  $ 124,900 + $154,000

= 278900

2. Debt        Stockholders' equity           Debt to equity ratio

 278,900             160,000                             1.74

Note: Debt to equity ratio = Debt / Stockholders' equity

6 0
3 years ago
REV Co. is reviewing the accounting and disclosure requirements for its significant guarantees, commitments, and contingencies,
victus00 [196]

Answer:

REV Co. has made disclosure in notes to the financial statement section. The disclosures include the details about related party transaction which was carried out by the brother of Chief Operating Officer. It is ensured that the transaction was completed on arm's length.

Explanation:

Disclosures are mandatory for any company which is listed. The companies provide details of specific transactions in Notes to the Financial statements. These additional information provides details of transaction to the shareholders and removes any ambiguity in the transaction. The purpose of disclosures is to ensure the shareholders that the company has not incurred any fraudulent activity in certain transactions and all transactions are fair and complies with International Accounting Standards.

5 0
2 years ago
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