Answer:
c. Involvement and empowerment of employees at all levels
Explanation:
Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction
Here are the following points to become important for an organization
1. Quality improvement, management leads to long term success for organization and customers
2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc
3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction
4. And, in case if there is few defective product so the company is in a position to save the cost
a. The amount of land on the balance sheet will be $36,000 which is historical cost of the land. Land is not subject to depreciation so it is recorded at historical cost and not carrying value.
b. The amount of rent expense reported on Income statement will be $5,500 [ $ 6,000 * 11 /12 months ]
c. The total amount of liabilities reported on the balance sheet will be $43,800. This includes the contingent liabilities and warranties.
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Answer: Undercapitalization
Explanation:
Susan's cake decoration business suffered from Undercapitalization.
Undercapitalization occurs when a business is not properly funded to maintain it's running. Undercapitalization is mainly common in small scale businesses with little start up capital.
Undercapitalization can cause inability to pay for: workers wages, rent, transportation of business supplies.
A financial statements are helpful to the business owner, employees, and investors because:
- It helps to financial plan
- It helps to make decisions
- It helps to adhere to regulations etc
<h3>What are financial statements?</h3>
This refers to those written records that convey the business activities and the financial performance of a company.
Some examples of financial statements in every standard companies includes Income statement, Cash flow statement, Balance sheet, Note to Financial Statements, Statement of change in equity etc.
In conclusion, majority of firm's financial statement are audited by government agencies, accountants, firms to ensure accuracy, tax purpose, financing, investing purposes etc.
Read more about financial statements
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Channel of distribution is the set path through which the goods are transferred from one place to another. This route can be direct or indirect is solely decided by the company to deliver the goods to the end consumers safely.
The big bulk should be broken down into different assortments so as to ease the movement of products from one place to another. The description of the products should be given clearly, place, time, quantity, etc. Information should be disseminated clearly without any errors.
