Answer: Double-entry bookkeeping, in accounting, is a system of book keeping where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides known as debit and credit. Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts. It is used to satisfy the accounting equation,
The term that best describes the given responsibility is joint accountability.
<u>Explanation:</u>
Sharing the responsibilities and the outcomes of any situation in a business entity or firm is known as joint accountability.
In a joint accountability environment, all the team members plan, decides, delegates and executes the work together. All the members of the team are equally responsible for both the positive and negative outcomes of any project they execute or plan.
Here, it has been given that in a partnership, each member of the project team is accountable for both the achievements and consequences of the project they are working in. So, we can conclude that the type of responsibility exhibited here is joint accountability.
Answer:
Supplier relationship management
Explanation:
Supplier relationship management, is all about interacting with and managing third-party vendors that provide services, goods and materials to an organization. you choose Suppliers are chosen because of their cost-efficiency and easy to work with to maximize the value of the relationship.This is what Betty is trying to incorporate in the system.
Answer:The product margin for product M5 is $7,385
Explanation:
To calculate the product margin for product M5,
Processing 3,870 ÷ 9,000
= 0.43 per MH
Supervising 25,000 ÷ 1,000
= $25 per batch
To calculate the overhead cost for product M5
Processing 0.43 per MH × 500
= $215
Supervising $25 per batch × 500 batches
= $12,500
Total = $12,500 + $215
= $12,715
To calculate the product margin for product M5 under activity based costing
$
Sales. 95,400
Less:
Direct materials 32,500
Direct Labour 42,800
----------------
Prime Cost. 75,300
Add: Overhead 12,715
----------------
Total Cost of production. 88,015
-----------------
Product Margin. 7,385
------------------
Answer: B. False
Explanation: If you chose a specific career and go for it until the end of high school you’ll probably have more knowledge in it but you can change your career by doing different curriculums during college or in the summer.
