Inventory are the products which are directly involved in the manufacturing of a business. Inventory includes raw materials inventory, work in progress inventory and finished goods inventory.
In a merchandising business, inventory includes all the products available for use. There are inventories in the administrative section of the company also which is known as the supplies Inventory.
Purchases are a nominal account that forms part in the cost of goods sold. Purchases term is used in the manufacturing firm and is the raw materials needed in the production of their product, thus will also form part of the inventory account if there is a left over for it.
Inventory on the other hand can come from the purchases itself in terms of the raw materials.
<u> There are many </u><u>inventory control</u><u> such as the following:</u>
Conducting different semi annual inventory count to know the actual number of inventory in hand against the monitoring of the inventory
Maintaining security of the facility of the stockroom storage by having cctv and padlock of the room.
Checking the incoming and outgoing inventory based on the documents given in the store.
Proper segregation of duties must be there, the record keeper should not be the same person as the one holding the inventory.
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Answer:
The correct answer is: Rolling wave planning
Explanation:
Rolling Wave Planning refers to the technique or process of project planning or management in waves. This technique involves iterative planning with the progression of the project. It is used in case of a tight or strict schedule that has to be followed.
The planning of the work to be completed in near term, involves setting high level assumptions and milestones.
Answer:
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The taxes that are being paid by a business firm represents: C. a cash outflow.
Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.
Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.
In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.
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Answer:
Users
Explanation:
The users be the ones to use the product, initiate the purchase process, generate purchase specs and evaluate product performance after the purchase.
