Answer:
Key S - Scenario
A - Accounting Principle or Assumption
S
Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.
A
Historical cost principle
S
The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.
A
Business entity assumption
S
Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.
A
Going concern assumption
S
Thomas records expenses incurred to produce the sales for the month.
A
Expense recognition principle
S
GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.
A
Revenue recognition principle
S
Thomas Company provides earnings information to investors at the end of every quarter.
A
Time period assumption
S
The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.
A
Monetary unit assumption
Explanation:
Answer:
Management refers to the ability or art of setting objectives, organizing, motivating the people resources, devising systems of measurement, and building human capacity towards the attainment of all organization objectives.
Explanation:
1. Defining Objectives: This flows down from the Founder and Chief Vision Officer. The objectives of an organization is the purpose for which an organization was set up. An example could be to give people living with a disability the opportunity to live inclusively, attaining their highest selves.
2. Organizing: When objectives are taken and put in form of goals, these goals are devolved through to management in the form of achievable tasks who then delegate them to staff. The process of ensuring that each staff know their tasks, who they are accountable to, and work together harmoniously is called Organising.
3. Motivating team: It is not enough to have human resources. It is critical that they be willing to work together, harmoniously and happily. This way, the company enjoys the highest performance possible.
4. Defining Performance Indicators
What is not measured can not be managed. Performance Indicators are systems of measurement that enable the organization to keep track of whether or not the goals are being met and in what measure they are.
5. Building Capacity
Organizations that build leaders the fastest are the ones that win. Building human capacity is the equivalent of upgrading machinery or opting for higher manufacturing technology in the industrial age. People are able to solve problems to the extend that they know how to. The more they know, the better and faster they are at solving such problems. Hence, increasing organizational competency and effectiveness.
Cheers
These:
department stores AND
online sellers
I hope it helped you!
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