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4 years ago

Write the meaning of errors of omission with examples

Business

1 answer:

olchik [2.2K]4 years ago

3 0

Answer:

not including something

Explanation:

errors of omission a mistake that consists of not doing something you should have done, or not including something such as an amount or fact that should be included

example

I sell you a house not telling you that the house is in a lake

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What is the difference between full absorption costing and variable costing?A. In full absorption costing, all of the non-manufa

Charra [1.4K]

Answer: C. In full absorption costing, fixed manufacturing overhead is included in the cost of the product. In variable costing, fixed manufacturing overhead is expensed.

Explanation:

Full absorption costing accounts for all the costs involved in making a product including the indirect and the direct costs. That means both variable costs like direct materials and direct labor as well as fixed costs like rent, and insurance are included in the cost of the product.

Variable costing on the other hand expenses fixed manufacturing overhead separately. As a result, Full absorption has a higher cost of inventory than does Variable costing.

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4 years ago

Strait Co. manufactures office furniture. During the most productive month of the year, 3,000 desks were manufactured at a total

Doss [256]

Answer:

b. $25,400

Explanation:

Please see attachment .

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3 years ago

James did not like the fact that he had no input in his productivity goal. Because of this, his was low and he did not take it a

Readme [11.4K]

Answer:

James did not like the fact that he had no input in his productivity goal. Because of this, his Goal acceptance was low and he did not take it as seriously as if he had set the same goal himself.

Goal acceptance refers to the willingness of an individual to receive or consent internally to a certain goal. It is usually higher when the individual is contributes to the setting of the goal and it is low here as James did not have any input into it.

Carol always tries extremely hard to reach her performance goal. She takes it personally when she falls short, which rarely happens because she is so dedicated to reaching it. Carol's Goal commitment is high.

Goal commitment refers to how much dedication and effort a person puts into meeting an objective. Carol puts a lot of effort into achieving her goals so her Goal commitment is high.

After organizational and subsidiary goals are set, each manager meets with each subordinate to explain the unit goals to the subordinate. Together the two determine how the subordinate can contribute to the unit's goals most effectively. This is called Management by objectives.

Management by Objectives is a type of management that works by making sure that employees understand the goals that management set. It works by management and employees working together to find out how best employees can meet the goals set.

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4 years ago

What is the standard deviation of the returns on a stock given the following information? State of Economy Probability of State

Llana [10]

Answer:

3.28%

Explanation:

Calculation for the standard deviation of the returns on a stock

The first step is to find the Expected rate of return using this formula

Expected Return = E[R] = p1*R1 + p2*R2 + p3*R3

Let plug in the formula

Expected Return= 0.28*0.175 + 0.67*0.128 + 0.05*0.026

Expected Return = 0.049 + 0.08576 + 0.0013

Expected Return= 0.13606

Second step is to find the Variance using this formula

Variance = σ2 = p1*(R1-E[R])2 + p2*(R2-E[R])2 + p3*(R3-E[R])2

Let plug in the formula

Variance = σ2 = 0.28*(0.175-0.13606)2 + 0.67*(0.128-0.13606)2 + 0.05*(0.026-0.13606)2

Variance = 0.000424570608 + 0.0000435256119999998 + 0.00060566018

Variance= 0.0010737564

Last step is to find Standard Deviation of the returns on a stock

Note that the Standard Deviation is square-root of variance

Using this formula

Standard Deviation =√Variance

Let plug in the formula

Standard Deviation = σ =√ (0.0010737564)

Standard Deviation= 0.032768222411*100

Standard Deviation= 3.2768222411%

Standard Deviation =3.28% Approximately

Therefore the standard deviation of the returns on a stock will be 3.28%

4 0

4 years ago

Olmsted Co. has small computer chips assembled in Poland and transports the final assembled products to the parent, where they a

Solnce55 [7]

Answer:

The solution to this question can be defined as follows:

Explanation:

In the given question, it would make a good impact, because Olmsted incumbent on zloty expenses, and in this condition will be used to cover such all costs, that is much less in dollars unless the zloty becomes reduced. They can also reimburse that zloty loan with much less dollar unless the zloty starts going down.

5 0

3 years ago

Write the meaning of errors of omission with examples​

Write the meaning of errors of omission with examples