That term is the division of labor.
Division of labor refers to the fact that each person will be assigned a certain task they specialize in, based on their education and skills. Every person can present the employer with a particular set of skills, and then he can decide who will do what within that complicated job.
Answer:
showrooming
Explanation:
In showrooming, a customer visits a store to touch, feel, and even discuss a product's features with a sales associate, and then instantly compares the prices online to see whether a better deal is available.
Answer:
$320,000
Explanation:
if allocated overhead was $95,100 and actual overhead was $120,500, then overhead costs were under allocated by $25,400 (= $120,500 - $95,100) and that must be added to cost of goods sold in order to determine the actual gross profit.
total sales revenue = $725,700
<u>total COGS = $380,300 + $25,400 = ($405,700)</u>
gross profit = $320,000
Answer:
$1,331
Explanation:
With regards to the above information, we need to calculate first current assets.
Current assets = $848 in inventory + $668 in accounts receivable + $231 in cash
Current assets = $1,747
Therefore,
Current liabilities = Current assets - Net working capital
Current liabilities = $1,747 - $416
Current liabilities = $1,331
'Accounting is referred to as the language of business because it is the method of communicating business information to decision-makers.
This statement is True.
Accounting, also called bookkeeping, is the measurement, processing, and transmission of financial and non-financial information about economic entities such as businesses and enterprises.
Definition of Accounting is the process of systematically recording and maintaining financial accounts. Creating an income statement is an example of accounting. noun.
The process of systematically recording all company financial transactions. This includes analyzing, summarizing and reporting financial transactions to regulators, authorities and tax authorities. Accountants do the bookkeeping process for a company.
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