This is a False Statement.
Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.
Specifically, management accounting aims to
- provide Information for internal Organisation managers
- providing details to governmental regulating bodies
- Information for shareholders, the accounts payable department, and other parties outside the company
- information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.
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Answer:
Reorder point
Explanation:
A company or organization making use of fixed-order quantity model which is a model where the REORDER POINT has been fixed and has already been set automatic in which once it reach the minimum inventory level it will remind the company that inventory level has reach the limit for the company to restore the stock inventory or order more product, which is why this inventory level is called the REORDER POINT.
Therefore REORDER POINT can be defined as the point which serve as a reminder that the stock inventory level has dropped to the minimum reorder level and need to be replaced or reorder.
Answer:
b.$ 66
Explanation:
The question requires that Summit requires a return on sales of 25 %. To achieve that the cost of goods sold should be 75 %.
if the revised selling price is $ 88
the target cost price would be ( $ 88 * 75 %) % 66
Answer:
C. the starvation of up to 35 million people.
Explanation:
Collectivization was first introduced in the USSR by Joseph Stalin between 1929-1933 and his purpose for starting this process was to limit the powers of the Kulaks, who were the rich peasants. The program was also aimed at improving agriculture. China adopted this same policy under the rule of Mao Zedong between 1949-1976. Also known as <em>The Great Leap Forward </em>era, this process sought to make China a socialist economy and also increase productivity in agriculture.
The resultant effect of this process was mass starvation of about 35 million people in 1959. Although the government referred to floods and droughts as the cause of this starvation, it was actually the result of collectivization. When Diang Xiaping came into power in 1978, he instituted reforms in the collectivization process that proved successful.
