Answer:
freedom to make decisions
electronic mail and telephone
face-to-face discussions
A variant of fiscal-year budgeting whereby a 12-month projection into the future is maintained at all times is termed Continuous budgeting.
<h3>What is Continuous Budgeting?</h3>
- Budgets are created for future periods, revised throughout current periods, and adjusted at the conclusion of the term. This process is known as continuous budgeting.
- In other words, it's the practice of maintaining active, current, and future budgets to monitor costs and project growth in the future.
- The majority of businesses create their budgets on a monthly, quarterly, or annual basis, however many businesses now create weekly budgets to monitor sales and shipments.
- In the current era, these plans are utilized to establish financial and performance goals and benchmarks for the future.
- Following the conclusion of the current period, the budgeting process is restarted by developing a new plan for the following accounting period.
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Answer: Options A and C are strengths while options B and D are weaknesses. See explanation below.
Explanation:
a. All employees must take at least five consecutive days off each year.
This is a strength in internal control. This would help to maintain stability in operational process and ensure leave days are effectively utilized. It also prevents staff from taking the leave days in piecemeal and sporadic manner thereby disrupting the operational process and causing team instability. It is also used to ensure leave days are promptly utilised and well accounted for.
b. The accounting department orders merchandise and approves invoices for payment.
This is a weakness in internal control. There should be a check and balance in this regard. In some organizations, proper scrutiny of the vendor and invoice is done by the Procurement Unit and the Expense Control Unit respectively. Even within the accounting department, there is approval hierarchy. Also, the unit within accounting department that is making the order should not be the one to approve the transaction.
c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.
This is a strength in internal control as it ensures checks and balances. Fraud and error can be detected through this means. The accounting department should verify the transactions to the relevant supporting document before recording the transaction in the system.
d. The officer who signs checks need not examine the payment packet because he is confident the amounts are correct.
This is a weakness in internal control in the sense that checks signed by the officer is binding in the court of law. The officer cannot claim ignorance if anything goes wrong. There is therefore a need for proper scrutiny and relevant questions asked before checks are signed.
Answer: exhaustion
Explanation:
Given the information provided in the question, we are told that Maya collapsed and had to be taken to the emergency room. According to Hans Selye, Maya is in the exhaustion phase of the general adaptation syndrome.
At this stage, Maya's energy resources has been depleted after failing to recover from shock.
Answer:
D) 75
Explanation:
Our initial production function is:
q = 305X - 2X²
we calculate the derivative of q:
(q') = 305 - 4X
MP = 305 - 4X
$10 / $2 = 305 - 4X
5 = 305 - 4X
4X = 305 - 5 = 300
x = 300 / 4
x = 75
