All categories

3 years ago

Identify the risks exist in the conversion cycle of Central Production Limited.

Business

1 answer:

11111nata11111 [884]3 years ago

5 0

Answer:

Authorization of transactions:- Because of unclear subjugation, there is a potential risk of entering a money transfer again and again. To minimize this, all workers should adopt the rules for specific purchases, such as maintaining a set pricing list and guarantee a limited error distance.

Explanation:

The following are the risks which currently exist in the Central Production Limited conversion cycle:-

Lack of a "Maker and Checker" concept:- It is important because it executes the role of a sort account executive to check that the instructions and demands presented are correct and are not replicated. It would be extremely effective that someone in a position of power and authority might supervise certain rates and with certain operations.

Use of Hard-copies:- The production center supervisor will temporarily suspend the use of such hard copies for each production process. It is not only a resource loss, but risks being lost or duplicated as well. It really would give them a better chance if all online requests could be collected which would be far more effective and could be seen by all stakeholders. It will also lead to better leadership and faster distribution of information.

Wastage:- Tests should be in place to determine why additional material is needed above the normal volume, and it should be approved by a senior authority to the superintendent of the production line.

Supply Chain Management:- Interactions between a variety of agencies are too many. Use an ERP (Enterprise Resource Planning) device to help in streamlining the entire process flow will serve them well.

You might be interested in

Inflation in the developing country of terbia has been rising over the last few years and is currently at a very high level. two

gtnhenbr [62]

Answer:

C) The central bank has been increasing the target interest rate at regular intervals and it is now at its highest level in eight years.

Explanation:

Since the central bank has been increasing the interest rates in Terbia, this means that it has been engaging in a contractionary monetary policy. In other words, the central bank has been decreasing the money supply in Terbia. If the money supply has been decreasing constantly during the last 8 years, then the high inflation rate cannot be caused by an increase in the money supply.

5 0

3 years ago

_____ studies the whole economy, such as investments made by all consumers and businesses.

Jet001 [13]

I think that it is Macroeconomics

6 0

3 years ago

Read 2 more answers

If the money supply is growing at a rate of 3 percent per year, real GDP (real output) is growing at a rate of 3 percent per

myrzilka [38]

Answer:

Explanation:

Given that,

Growth rate of money supply = 3% per year

Real GDP growth rate = 3% per year

Velocity = Constant

According to the quantity growth theory of money,

M + V = P + Y

where,

M = Growth rate of money supply

V = Velocity

P = Inflation rate

Y = Real GDP growth rate

M + V = P + Y

3% + 0 = P + 3%

3% - 3% = P

0% = P

Therefore, the inflation rate is 0%.

6 0

3 years ago

Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common

Viktor [21]

Answer:

June 30, repurchase of 100 shares:

Dr Treasury stock 4,000

Cr Cash 4,000

Explanation:

The other journal entries should be as follows

July 20, resale of 50 shares:

Dr Cash 2,300

Cr Treasury stock 2,000

Cr Additional paid in capital 300

August 1, resale of 20 shares:

Dr Cash 760

Dr Additional paid in capital 40

Cr Treasury stock 800

3 0

3 years ago

Havermill Co. establishes a $460 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

frozen [14]

Answer: Debit Petty cash $408; Credit Cash $408.

Explanation: Petty cash is a small amount of fund set aside for immediate or urgent minor expenses. In most organizations, there is a limit to the petty cash amount that a business unit can have. And someone is always saddled with the responsibility of managing the fund. It has its business rule in the sense that the amount should not be withdrawn beyond zero balance to throw it into debit.

In the instance of the question, the petty cash is $460 and within September, total expenses of $316 were incurred and paid for, leaving a balance of $144. However, the accountant determines that this cash should be increased by $92 on 1 October, so reimbursement to the fund would be the amount already spent ($316) and the proposed increment ($92), making $408.

5 0

3 years ago