Answer:
Gottahave is a cereal brand. The company used to feature its mascot, an animated giraffe, in its TV commercials, to attract viewers' attention. Initially, viewers would watch the commercial. However, after they had been exposed to the commercial many times, they began to expect the appearance of the giraffe and tended to tune out the commercial. The consumers' response to this overexposure is an example of <u>habituation</u>.
Explanation:
Habituation is a diminishing in response to a stimulus after repeated presentations. For example, a new sound in your environment, such as a new ringtone, may initially draw your attention or even become distracting but after some time it might not draw your attention. This diminished response is habituation.
The best and most correct answer among the choices provided by the question is the third choice "flow chart"
A flowchart<span> is a type of diagram that represents an algorithm, workflow or process, showing the steps as boxes of various kinds, and their order by connecting them with arrows. This diagrammatic representation illustrates a solution model to a given problem.</span>
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Answer:
Items of Cash : Cash and Till float
Risks : Fraud and Theft
Controls : Segregation of duties over the receipt and recording of money and Every cashier should only be responsible for his own funds.
Test of Controls : Do a surprise cash count and Enquire about and observe the controls over cash by management
Explanation:
Bank and cash transactions occur on a daily basis in all businesses. Although the cash and bank balances may not individually be significant, annually the volume of cash and payment transactions and bank deposits can be significant to the entity.
Items of Cash
Cash balances comprise the following:
Risks
Cash is highly susceptible to fraud and theft by employees, often in collusion with third parties.
To mitigate this risk related to cash balances, management will usually implement strict control policies and procedures for cash handling and recording.
Controls in the bank and cash cycle can be divided into 2 categories:
Basic Controls
- Segregation of duties over the receipt and recording of money.
- Different forms of cash (sales, petty cash, cash loans) should be kept separately and recorded separately.
- Proper stationery control. Receipts, cash sales slips/invoices must be numerically recorded
- Safeguarding of money. Cash must be locked in a Volt and deposited as soon as possible. You would also need control over the key to the Volt.
Control over Cash
- Cashier must balance cash on a daily basis and must compare it with the source documents (receipt, cash invoices, cash register totals) and record it on a cash receipt summary. The Cash Receipt Summary must be Signed by the Cashier, Independently reviewed by the Senior Official.
- Every cashier should only be responsible for his own funds. Usually during lunch. Cash registers must be locked away.
- Every cashier should be responsible for his own float. They should lock in Cash Drawer.
- Supervision over cashiers. Through the use of Cameras.
- Cash must be banked as soon as possible.
Audit approach for testing these accounts
- Enquire about and observe the controls over cash by management.
- Do a surprise cash count (also attend on a surprise basis the daily balancing of cash). In the presence of a Cashier who signs back of the receipt, agree the cash with the supporting documentation (receipts, cash invoices, cash register total) and follow the float through to the balance in the ledger.
- At a later stage follow the cash counted through to deposit slip, and agree it with the cash counted, ensure they are banked timeously and follow the total of the deposit slip through to the cash book and bank statement.
Answer: d. Dynamic pricing strategy
Explanation:
The companies mentioned above are increasingly turning towards Dynamic pricing in order to maximize sales and therefore increase profitability.
Dynamic pricing refers to a strategy where goods are priced at the optimal price based on the conditions at the time. In other words, it involves trying to sell at a price that is cheapest for the customer based on factors such as consumer willingness to pay, competition and others.
Prices can therefore change multiple times in as little a period as a day just to ensure that customers buy the goods being offered.
It’s True that economies of scale are ways that a company can lower the cost per unit by selling more units overall
