Answer:
b. They are not specific
Explanation:
The main problem with service quality standards such as "be nice" or "do what the customers want" is that they are not specific. An individual may think that they are being nice, while another person may take that behavior as being sarcastic or "having an attitude". The same goes for "do what the customer wants" since there are things that an employee is not allowed to do at all.
The answer is d sole proprietorship
Answer:
The correct answer is Option D.
Explanation:
Internal control comprises the whole system of financial and other controls established and operating within a business, including internal check, internal audit and all other forms of control.
Based on Committee of Sponsoring Organizations (COSO) framework, there are 5 interrelated components of internal control, which are: Control environment, Risk assessment, Control activities, Information and communication and Monitoring.
It is necessary to stress that internal control relates to all forms of controls within an organization and not necessarily limited to only accounting matters e.g., a security check on vehicles exiting business premises to be sure they are not carrying stolen items from the organization is an internal control but not an accounting-related.
Answer:
The correct answer is the third statement which says to maximize profits, the firm should produce less than 500 units.
Explanation:
The quantity of output produced is 500 units.
The marginal cost of producing 500 units is $1.50.
The minimum average variable cost is $1.
The price of the product is $1.25.
The firm will be at equilibrium when the price is equal to marginal cost. To maximize profits firm should decrease output to the extent that marginal cost comes to $1.25. At that point, the firm will earn profits as average variable cost is lower than the price.
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