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Snezhnost [94]
3 years ago
6

___ involves defining and documenting the features and functions of the products produced during the project as well as the proc

esses used for creating them.
Business
1 answer:
stepan [7]3 years ago
3 0

The answer to the above question is - Collecting Requirements.

Collecting requirements helps in clearly defining and providing information on the features and the function of the products products and the processes used for manufacturing or creating them.

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Consider a firm with a 2013 net income of $20 million, revenue of $60 million, and cost of goods sold of $25 million. If the bal
Nostrana [21]

Answer:

Weeks of supply = 4.16 weeks

Explanation:

given data

net income = $20 million

revenue = $60 million

cost of goods sold = $25 million

inventory = $2 million

property, plant, and equipment = $500,000

to find out

how many weeks of supply does the firm hold

solution

we know here that Weeks of supply will be express as

Weeks of supply = \frac{average inventory}{cost of goods sold} × 52 weeks          ....................................1

so put here value we get weeks of supply

Weeks of supply =  \frac{2}{25} × 52 weeks

Weeks of supply = 4.16 weeks

3 0
3 years ago
Nile Corp. has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
True [87]

Answer:

Overheads cost allocated to Mossman Job  = $449

Explanation:

We have been provided the cost of each activity and their respective drivers.

There are three activities

Supervision of Direct Labor = $304,000 for 760,000 labor hours

Machine Maintenance = $153,600 for 960,000 hours

Facility rent = $165,000 for 110,000 square feet

Activities of Mossman Job and respective costs will be as follows:

Supervision of Direct Labor = $304,000/760,000 X 260 labor hours = $104

Machine Maintenance = $153,600/960,000 X 1,500 = $240

Facility Rent = $165,000/110,000 X 70 = $105

Net Overheads cost allocated to Mossman Job = $104 + $240 + $105 = $449

6 0
3 years ago
The primary purpose of the legal reserve requirement is to:
Marta_Voda [28]

Answer: The correct answer is choice C.

Explanation: The primary purpose of the legal reserve requirement is to provide a means by which monetary authorities can influence the lending ability of commercial banks. These policies are the way in which the Federal Reserve can control the money supply.

4 0
3 years ago
Wilson Inc. developed a business strategy that uses stock options as a major compensation incentive for its top executives. On J
jasenka [17]

Answer:

Wilson Inc. developed a business strategy that uses stock options as a major compensation incentive for its top executives. On January 1, 2021, 20 million options were granted, each giving the executive owning them the right to acquire five $1 par common shares. The exercise price is the market price on the grant date—$10 per share. Options vest on January 1, 2025. They cannot be exercised before that date and will expire on December 31, 2027. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $40 per option. Ignore income tax.

Assume that all compensation expense from the stock options granted by Wilson already has been recorded. Further assume that 200,000 options expire in 2014 without being exercised. The journal entry to record this would include

5 0
2 years ago
Auditors who are searching for evidence that assets, liabilities, and equity items have been recorded at appropriate amounts and
trasher [3.6K]

Answer:

a. valuation and allocation.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.

An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

Auditors make use of accuracy, valuation and allocation to search for evidence that assets, liabilities, and equity items have all been recorded at appropriate amounts and allocated to the correct general ledger accounts of a business firm.

The main purpose of a general ledger is to list all accounts used in recording an organization's transactions and as such it contains a list of transactions affecting each account and the account's balance. Also, the page number of the account debited or credited in the journal is written in a posting reference of a ledger and it usually serves as a link to cross-reference or juxtapose the transaction from one record to another in a business firm.

6 0
2 years ago
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