Even after commencement of business operations, officers and directors have a responsibility to comply with <u>corporate formalities.</u>
Corporate formalities is a term that is used to refer to the operating rules and guidelines that a corporation or business has to or must follow so as to meet its operational requirements. This in turn allows it to maintain the corporate protections that it enjoys.
Corporation refers to an entity that enjoys the backing of a law. It is separate from the directors or owners of the company.
It has the responsibility to comply with the rules and regulations so as to have a proper corporate functioning.
To learn more business here
brainly.com/question/15826771
#SPJ4
Answer:
Net Income = $67,032
Return on assets = 0.152 = 15.2%
Explanation:
Profit Margin = Net Income / Net sales
Net Income =Profit Margin x Net sales
Net Income = 8% x $837,900
Net Income = $67,032
Asset Turnover = Net Sales / Average total assets
1.9 = $837,900 / Average total assets
Average total assets = $837,900 / 1.9
Average total assets = $441,000
Return on Assets = Net Income / Average total Assets
Return on Assets = $67,032 / $441,000
Return on Assets = 0.152 = 15.2%
<h3>Inventory Control</h3>
Inventory control is a process of maintaining the right amount of parts and products in stock to avoid shortages, overstocks, and other expensive problems that might arise in the future.
The purpose of inventory control is to reduce the number of slow-selling products that a company purchases and to increase the number of high-selling products that are purchased. As a result, businesses are able to save time and money. This is because they don't have to spend a lot of time and effort reordering goods that they don't really need, or receiving goods they don't actually need. As an additional benefit, these products are not stored in warehouses at all, which means that transportation costs are reduced and space is freed up for fast-moving finished goods, which is a further benefit.
It is critical to understand that using inventory control can help you avoid making rash decisions, as well as avoiding the pain and expense associated with overstocking your shelves. As its name suggests, inventory control helps you maintain control over your inventory level. This helps you make the best use of your resources and avoid product spoilage and obsolescence.
<em>Hope this helps :)</em>
Answer:
Quality
Explanation:
Quality control, quality assurance, and total quality management are all part of the quality management viewpoint.
