Answer:
c) response more quickly
Explanation:
Teamwork refers to working in collaboration towards attainment of a common goal. Teamwork leads to synergistic gains as the collective group work exceeds the work carried out individually.
Following points highlight the importance of team work in an organization:
- Promotes problem solving skills: Working in a team helps individual develop problem solving skills.
- Improved coordination and communication: Teamwork leads to better familiarity and thus improves coordination.
- Increased efficiency and quicker responses: Teamwork leads to synergistic gains as collective effort exceeds individual effort and also expeditious performance.
- Promotes learning: One to many interactions among team members promotes learning
- Builds a sense of belonging: Since all team members are united by one common goal, teamwork builds a sense of belonging w.r.t organization.
Answer:
b. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MARKETS ARE RUN FAIRLY
Explanation:
- The U.S (SEC) securities and exchange commission is an independent agency of the American government and is responsible for enforcing the federal security laws and rules and regulated the industry.
- The SEC was created by the securities exchange act of 1934, mission as to protect the investors, maintain fair and orderly, and have an efficient market.
- <u>Publishes quarterly and semi quarterly reports form the companies that are crucial for investors to make a sound decision when investing in the capital markets.</u>
Answer:
1. Journal Entry Debit Credit
Raw materials inventory $73,400
($72,000 + $1,400)
Accounts payable $73,400
(Being raw materials purchase on credit)
2. Journal Entry Debit Credit
Work in process $64,300
($64,000 + $300)
Raw materials inventory $64,300
<u>Raw Material Inventory Account</u>
Beginning balance $36,000 | Work in process $64,300
Purchase $73,400 | <u> </u>
| Ending balance <u>$45,100</u>
| ($36,000 + $73,400 - $64,300)
Maintenance and operations are part of which career cluster: 2. Engineering
Although there are maintenance and operations in most career clusters, out of the choices listed the best answer is engineering. Many operations and maintence repairs are figured out by engineers because they have gone to school and have learned how to built these types of items. Operations and maintenance is needed in building refiners, power plants and repairing equipment.
Answer:
1. Going concern
2. Economic entity
3. Monetary unit
4. Periodicitys
Explanation:
1. Since Jumbo's Restaurant is planning to close, the assumption of continuity (going concern) is no more applicable. This should be disclosed. Instead asset was still recorded at historical price which is misleading.
2. Gorloks Tax Services is an economic entity, and the property and assets of owners are not considered to be for the business. In this case the boat Sam bought was wrongly reported as an asset of the company.
3. Claim Jumpers when reporting the 5 trucks purchased must include a monetary value for them. The assumption of monetary unit states that all items reported on the balance sheet must be expressed in monetary terms.
4. Cobbler's Etc violated the assumption of periodicity which states the financial position of the business must be declared in a particular accounting period. Accounting period can monthly, quarterly, biannually, and yearly. The business should choose and accounting period and ensure financial position is reported for each of them. In this case financial reporting is not consistent with reporting happening after 14 months and before that 18 months.
