Answer:
The statement is True as well as correct
Explanation:
Allowance method is the financial term which is defined as the uncollectible accounts receivable procedure that reports the estimate of the bad debt expense in the same accounting or fiscal year as the sale.
Under this method, it is used to adjust the accounts receivable which appears on the balance sheet.
For example,
If the company has the credit sales of $800,000 in December and estimate that the 4% will be uncollectible. Then using this method, computing the uncollectible as:
Bad debt expense = Sales × Estimate uncollectible
= $800,000 × 4%
= $32,000
So, this estimate the bad debt expense rather than wait to see which customer will not able to collect.
Answer:
D) Project importance is enhanced by setting authority equal to that of functional departments.
Explanation:
A matrix organization is characterized by, multiple command system and overlapping of command, control and behavioral pattern.
Here, temporary project groups are created so as to handle short term projects. Personnel are drawn from functional department and their activities are controlled and coordinated by a project manager.
Once a project is completed, the structure is disbanded and the personnel return to their original departments i.e functional department.
During the project duration, a person is responsible and reports to two bosses, one being the project manager and secondly to the functional boss. Thus, under such a structure exists dual reporting.
Under matrix structure for project management, the project manager is not allowed to use resources exclusively for the project i.e like in project management. Rather, such a manager is required to share resources with the organization.
Answer:
A) Polonova has a strong sense of personal ambition and independence.
Explanation:
From the question we are informed Rainbow Corp. who hires a new secretary, Polonova, who differs from the vast majority of the company's employees in terms of her ethnicity. The company has a collectivist culture with a culturally diverse workforce and several policies to support the minorities. Yet, after a few weeks, she quits the company. In this case, she quit because Polonova has a strong sense of personal ambition and independence.
Personal Ambition can be regarded as strong desire as well as aspiration to work towards acheiving something or goals which requires alot of dedication and extra work. Personal independent also require the ability of someone to independently carry out some task productivity with freedom of choice in an organization.
Answer:
<u><em>Ending Inventory:</em></u> <em>21,267.70</em>
Explanation:
cost retail
beginning 12,700 20,900
purchases 113,930 158,500
markups 9,600
markdowns (7,400)
total 126,630 181,600
inventory to retail ratio: 126,630 / 181,600 = 0.6973
sales revenues 151,100
COGS: 151,100 x 0.6973 = 105,362.30
<u><em>Ending Inventory:</em></u> 126,630 - 105,362.30 = <em>21,267.70</em>
