I experienced lean management at a very large open pit mining operation in the 1980's and 1990's. Part of it was a new theoretically streamlined system for purchase orders. Prior to this introduction, the technical people only had to briefly fill out a hand written form and send it to purchasing where they completed the final form. After the JD Edwards system was introduced, then the entire onus was on the technical person to complete the whole order in its' final form so this resulted in added stress to us and meant more time in the office and less on important field duties..
Also,since we had a skeleton crew in mine engineering, I (we) had to do multiple projects which only allowed us to touch lightly on each one and therefore compromise the quality of the work. As primarily a field man, I would need to both plan the work and also carry it out myself in the field and sometimes it was difficult to do both,
With a credit card you don't always need to use cash, but you have to pay fees to the bank for usage.
Answer: C. Matching all bank statement items to canceled checks.
Explanation: To help prevent and detect schemes involving fraudulent invoice and non accomplice vendors, matching all bank statement items to canceled checks is the right option to go with.
This action have proved to be effective and to at least prevent fraudulent invoice by vendors.
Answer:
a) Determine which type of cars will be sold at the efficient allocation.
All cars would be sold in a Pareto efficient allocation.
In a Pareto efficient market, resources are all allocated in the most efficient possible way. This is the reason why this is just a theoretical concept that does not necessarily apply in real life.
b) Determine which type of cars will be sold at the market equilibrium.
Since consumers are only willing to pay up to $1,620 for a used car, only medium quality and low quality cars will be sold. The price of high quality used cars is higher than the equilibrium price.
Explanation:
the most a buyer would be willing to pay for a used car is ($1,800 x 40%) + ($1,600 x 30%) + ($1,400 x 30%) = $720 + $480 + $420 = $1,620
Answer:
Explanation: Journal Entries
Debit: Cash. $19.7m
Credit: Unearned Revenue $19.7m
Being sales of gift card for the month of December.
Debit: Unearned Revenue. $12.7m
Credit: Sales. $12.7m
Being actual gift card redeemed for the month if December.
Unearned Revenue a/c has a credit bal of $7m as unredeemed gift card. Its a liability to the company as they have the money but the cards are yet to be redeemed.
