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3 years ago

If romeo wants to encourage more innovation among his employees, he should __________.

1 answer:

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Romeo could do several things to encourage innovation for example by showing inventions created by other departments of his enterprise or by people in other companies either having the actual item or showing a video of it, and also by rewarding those who come up with new innovations with prizes for example. Of course, innovative ideas or better ways of doing things would also be encouraged.

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1. Congress passed the Sarbanes-Oxley Act to ensure that investors invest only in companies that will be profitable.

Oksana_A [137]

Answer:

1. False

2. False

3. False

4. True

5. True

Explanation:

Sarbanes-Oxley Act was a federal law that was established by congress to sweep auditing and financial statements for public companies. The main aim for this was to improve the investor confidence by improving reliability in accounting statements. Errors in the financial statements for the public companies were to be minimized following this law especially in the wake of numerous cases of corporate crime. This law was never passed to ensure that investors only invest in companies that will be profitable, since the choice of which company to invest in is exclusively left to the investor. So the above statement is false.

Ethics can be defined as a set of rules and regulation that govern the moral behavior of someone. Ethical standards vary from one region to another since they are majorly cultural, for example; a behavior in the United States can be considered as appropriate while the same behavior in a different place can be inappropriate. Ethical standards are either right or wrong, and the actions are judged on these terms. Ethics don't measure whether a actions are loyal or disloyal, thus the statement is false.

The primary accounting standard setting body in the United States is Financial Accounting Standards Board (FASB). This body is charged with regulating and setting the best standard of accounting practice. The FASB usually constitutes a board whose officials are rigorously assessed. The board members have to be professionals in the field of accounting. Securities and Exchange Commission on the other hand is an independent federal agency with the authority to enforce federal security laws. Thus the statement above is false.

The historical cost principle suggests that the companies record assets cost at their original cost and continue to report them at their original cost over the time the asset is held. The historical cost principle is a generally accepted accounting principle that has been in use for a long time. The definition about the historical cost principle in the question above is therefor true.

The monetary unit assumption dictates that business related activities be converted to monetary units. There are some business transactions that are however quite difficult to convert into monetary units, therefor the accountant in using this principle is only obliged to record only the transactions that can be measured in money terms. The statement about monetary units in the question above is thus true.

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3 years ago

A firm can effectively use its operations function to yield competitive advantage through all of the following except

ira [324]

Answer:

The correct answer is b.setting equipment utilization goals below industry average.

Explanation:

A firm cannot achieve competitive advantage by setting its equipment utilization goals as this will not retain its customers.

If a firm wants to achieve competitive advantage it can achieve it by;

Addressing its customers concerns and customizes the products according to their needs.

Providing customers their ordered products earlier than other companies lead time, which means increase in speed of delivery and shortens the delivery time.

Bring improvement and advancements in its products by using new technology.

Maintain a variety of different product options to cater the needs of its various customers. Offering them a wide range of products will probably reduce chances of customer switch.

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3 years ago

On January 1, 2018, an investor company acquired 30% of an investee company’s common stock for $600,000. As a result of this tra

djverab [1.8K]

Answer:

$642,000

Explanation:

the journal entries required to record these transactions under the equity method are:

January 1, 2018, investment in ABC company

Dr Investment in ABC company 600,000

Cr cash 600,000

December 31, 2018, dividends received from ABC company

Dr Cash 15,000

Cr Investment in ABC company 15,000

December 31, 2018, ABC company reports net income

Dr Investment in ABC company 36,000

Cr Investment revenue 36,000

December 31, 2019, dividends received from ABC company

Dr Cash 15,000

Cr Investment in ABC company 15,000

December 31, 2019, ABC company reports net income

Dr Investment in ABC company 36,000

Cr Investment revenue 36,000

The balance of the investment in ABC company account = $600,000 + $36,000 + $36,000 - $15,000 - $15,000 = $642,000

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3 years ago

Ben & Jerry's, an ice cream manufacturer, is evaluating their strategies for days of supply. Typically, organizations with p

Phoenix [80]

Answer:

False

Explanation:

Perishable goods need to have fewer days of supply owing to their nature, as high days of supply might caause more spoilage and lead to higher inventory cost.

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3 years ago

Japan Company produces lamps that require 3 standard hours per unit at a standard hourly rate of $12.00 per hour. Production of

coldgirl [10]

Answer:

(a) rate variance = $ 5,234, Adverse

(b) time variance = $ 6,360, Favourable

Explanation:

(a) rate variance,

rate variance = (Standard Rate - Actual Rate) × Actual Hours

=( $12.00- $12.20) × 26,170 hours

= $ 5,234, Adverse

(b) time variance, and

time variance = (Standard Hours - Actual Hours) × Standard Rate

= (26,700 hours - 26,170 hours) × $12.00

= $ 6,360, Favourable

total cost variance = rate variance + time variance

= $ 5,234, Adverse + $ 6,360, Favourable

= $1,126, Favourable

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3 years ago

If romeo wants to encourage more innovation among his​ employees, he should​ __________.

If romeo wants to encourage more innovation among his employees, he should __________.