Answer:
1.23
Explanation:
Inventory turnover is a ratio showing how many times a company has sold and replaced inventory during a given period.
Cost of Sales=Opening Inventory+Purchases-Closing Inventory
=5,500+4,000-3,800= 5,700
Average Inventory= Opening + Closing/2
= 5,500+3,800/2= 4,650
Inventory Turnover Ratio= <u>Cost of Sales</u>
Avg Inventory
= 5,700/4,650=1.23
Answer:
Customer-segment pricing
Explanation:
Customer-segment pricing is a form where the price of the product is grounded on the segment of the customer. It is the segmentation of the price, where the different prices are charged to different people for the similar or the same service or the product.
In this case, the gallery has a different admission prices for seniors, adults and students and they are entitled to have a same service, this form of the pricing is known as the customer pricing segment.
Answer: $500
Explanation:
Interest for the period = Amount borrowed * Interest rate * 120/360 days
= 15,000 * 10% * 120/360
= $500
Answer: The "Controlling" step of the management framework.
Explanation: Management principles have been categorised into 4 main functions namely: planning, organising, leading and controlling. In short this is known as the P-O-L-C framework. The aim of this framework is to act as a guide used to assist management in addressing challenges faced by the organisation.
In the monitoring step of the mission and vision statements development is analogous (related) to the controlling element of the framework. In this step, key milestones are identified and recognised over time. Using these milestones, progress is monitored and measured against the objectives of the organisation. Audit can be an important tool used during this step of the process, to confirm whether milestones are effectively monitored.
