Answer:
the set goal was too ambitious or employees need to improve their performance.
Explanation:
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.
Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Hence, when a goal is not met, a manager should assume that the set goal was too ambitious or employees need to improve their performance. Thus, the set goals for an organization shouldn't be too ambitious while encouraging employees to be up and doing in performing their duties.
Answer and Explanation:
The preparation of the operating activities section is presented below:
Cash flows from operating activities
Net income $374,000
Adjustments made
Add: Depreciation $44,000
add: Amortisation expanses $7,200
Add: Accounts receivable decrease $17,100
Add: Inventory decrease $42,000
Less: Prepaid expense increase -$4,700
Less: Accounts payable decrease -$8,200
Add: Wages payable increases $1,200
Less: Gain on sale of machinery -$6,000
Net cash provided by operating activities $466,600
Answer:
construction in progress 400,000
cost of construction 600,000
revenue from long-term contracts 1,000,000
Explanation:
To derive revenue for this year :we say Total revenue $3,000,000- Revenue previously recognized $2,000,000 =
Revenue to recognize this year $1,000,000.
Cost recognized for the year= $600,000(as opposed to $12000000 in costs last year)
Gross profit recognized for this year = $1,000,000 - $600,000 = $400,000
Answer:
Group think bias
Explanation:
Groupthink bias occurs when people believe in something because other people believe in it. It is when everyone comes to the same conclusion concerning a matter.
In the meeting everyone agreed with the CEO, this is an instance of groupthink.
Anchoring bias is when a person's decision is overly anchored on an initial information given when making a decision.
Confirmation bias is when a person arrives at a conclusion in line with their beliefs.
Availability bias is basing decisions on past instances that comes to mind when making the decision.
Hindsight bias occurs when people over estimate their abilities to predict how an event would have turned out in hindsight.
This statement " The amount of net income determined for an accounting period will be the same regardless of whether the income statement is prepared under a contribution margin format used in managerial accounting or the product costing format use in financial accounting " is TRUE
Explanation:
Regardless of the medium used, the sum of net costs and revenue would be the same.
The discrepancy between the two systems depends on the categorisation of prices.
The balance sheet and cash flow report also take care of the capital expense on the income statement. Fixed expenses can be short or long-term liabilities on the balance sheet. Eventually, the declaration of Cash Flow shows any funds spent for fixed cost expenditures. In addition, rising spending and increasing income will support a company's overall goals.