Answer:
Management and employees must be convinced of benefit and receive training prior to conversion to avoid obstacles.
Explanation:
A lean business is a business concept used by organizations to eliminate waste and maximize value for growth and development. The lean business concept include the following;
I. A total quality management (TQM): it is a management framework that is focused on achieving long-term success through the satisfaction of your customers by the efforts of all the member of staff in an organization.
II. A continuous improvement (CI): it is a management technique that is focused on improving manufacturing processes, products and services through the elimination of redundancy and time-wasting activities in an organization.
III. Just-in-time (JIT): it is a management framework that is focused on cutting manufacturing costs and increase efficiency between suppliers and consumers through the use of a proper inventory system.
Additionally, lean production is a manufacturing methodology that is focused on integrating activities that are designed to provide massive quantity with high quality production using minimal resources, raw materials, finished products and work-in-process features.
This ultimately implies that, lean production is basically a supply management process aimed at elimination of waste as much as possible and it requires a mutual agreement between the management and employees, as well as proper training of the employees (workers) before implementing the conversion.
Hence, the statement which is correct about planning a successful conversion to Lean/Just-in-time operations is that both management and employees must be convinced of benefit and receive training prior to conversion to avoid obstacles.
Answer:
States audit provides reasonable basis for the opinion.
Explanation:
The auditor performs the audit to assure certain things about the financial statements of the company. As like:
- The financial statements represent true and fair view of the affairs of the company.
- There is no false presentation in the company's financial statements.
- The company complies with all the presentation standards for financial statements as stated by US GAAP.
This assures that the audit of financial statements do not provide any basis of opinion, rather the auditor presents his opinion on financial statements.
Answer:
The answer will be below;
Explanation:
a.$54,000
(3,600*15)
The warranty expense is estimated and it is probable that an outflow of $54,000 will be incurred. Therefore in first year, the whole warranty expense is recorded for both the years. As per definition of provision; it is present obligation as a result of past event, outflow is probable and amount of outflow can also be easily estimated.
Answer:
Brand association
Explanation:
Brand association is anything which is deep seated in customer's mind about the brand. Brand should be associated with something positive so that the customers relate your brand to being positive. Brand associations are the attributes of brand which come into consumers mind when the brand is talked about.
Answer:
Eritrea, Guinea and Ethiopia
Explanation: