Answer:
A. The lowest price is a relevant statistic for someone planning to buy one of the TVs.
Explanation:
The measures of central tendency refers to the measurement of data by considering the mean, median and mode so that it could estimate the sample data based on this measures
In order to decide to buy one of these TV the statistic that is should be considered and ignore the central tendancy measures is the price that is lesser to buy one of the TVs.
hence, the correct option is A.
Answer: 1. B. Petty Cash
2. D. Petty Cash
3. D. Debit petty cash and credit cash
Explanation:
1. When creating the Petty Cash fund, Cash is credited because money is being removed from it. It is then put into the Petty Cash account hence a debit.
2. When taking money from Petty Cash, it is an asset and so is credited to reflect the outflow.
3. Similar to the transaction in question 1. You are taking money from cash account to.put in Petty Cash so the right procedure is to debit Petty Cash and credit Cash.
Answer
a. 200 million
b. 30 million
The answer and procedures of the exercise are attached in the image below.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
The five ways for contract management are:
1 - how buyer and supplier work after contract has been awarded.
2 - Key decisions made.
3 - Risk of misunderstanding and disagreement.
4 - Identify opportunities and improve performance.
5 - Performance evaluation against KPIs.
Explanation:
Contract management is essential for any business to succeed. There are five ways in which contract management will add value after contract award stage. Usually value addition is achieved by the response of buyer and seller towards the services after the contract has been awarded. There should be right individuals involved in decision making process. The performance should be evaluated against the KPI mentioned in the contract. If both supplier and buyer work with mutual understanding there is very less chance for disagreement and value will be added to the contract performance.
