Answer:
"B"
Explanation:
Segregation of duties is a major international control procedure where responsibilities are shared between two or more individuals.
The aim is to minimize or prevent the opportunity for a particular individual to execute and cover up fraudulent activities.
It is arranged in a way that an individual is in the position to keep a check over the activities of the other party.
Answer:
$1,620,000
Explanation:
Assume that Sharp operates in an industry for which NOL carryback is allowed.
In its first three years of operations Sharp reported the following operating income (loss) amounts: 2019 $ 1,350,000 2020 (3,150,000 ) 2021 5,400,000
There were no deferred income taxes in any year. In 2020, Sharp elected to carry back its operating loss.
The enacted income tax rate was 25% in 2019 and 30% thereafter.
In its 2021 balance sheet, what amount should Sharp report as current income tax payable is the applicable tax rate for 2021 applied on the income of the year: 30% x 5,400,000 = $1,620,000
Answer:
The inventory would be increased by $55,283 and the profit has been decreased by the same amount.
Explanation:
The reason is that the closing inventory has been increased by the difference of the correct and incorrect amount which is:
Closing inventory difference = $225,513 - $170,230 = $55,283
This will increase the closing inventory in the balance sheet and the increase in the closing inventory will decrease the cost of goods sold. The lower the cost of goods sold the greater is the profit.
The value is formed by the the particular belief related to an idea or behaviour.
Explanation:
The values are the principles, standards or qualities of an individual or group of people hold. They are our own words, thoughts or actions. It is very important because they helps us to grow and develop. the decisions are made based on the values and beliefs.
The values comes from various sources such as family, workplace, educational institution, music, media, technology, culture and so on.
The most important common values are integrity, respect, excellence, responsibility. The values mainly focuses on the person's behaviour and attitude in all situations.
Answer:
A supply chain is the system put in place to move a good or service, from a provider, to the final customer.
Supply chain management is the process of managing the supply chain.
Five key issues in supply chain management:
- Upstream supply management: upstream supply refers to the acquisition of raw materials. Management has to find reliable upstream suppliers that offer a good balance between quality and price. For example, a paper-producing firm has to find a good timber and pulp company to operate.
- Downstream supply management: downstream supply refers to the movement of fininished goods and services, to the final customer. Many companies contract a third party to complete this process, and it is of the utmost importance because customer satisfaction largely depends on it. For example, Amazon contracts UPS to complete deliveries in a timely manner.
- Warehouse management: depending on the size of the business, inventory can be stored in a small room or in very large warehouses. Organizing inventory, and more important, deciding when to buy inventory, and when to dispose of it, are a key part of a business strategy. Amazon is known for its innovative warehouse management, which includes the use of hundreds of human employees and robots.
- Product development: if a firm is new in the market, it has to provide a product or service, and product development is the first stage, before the company can move on to supply chain management. Companies already in the market should also try to develop new products and services to stay competitive. Amazon again, is well known for product development, offering new goods and services each year.
- Outsourcing: sometimes it more efficient for a company to move production abroad. Studying the foreign market, and projecting future costs is crucial before deciding to outsource. Apple does not manufacture the iphone in the United States, instead, outsources this process to Asian countries were wages are lower.
