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4 years ago

Goods arrive when needed for production, use or sale rather than sitting in storage

Business

1 answer:

igor_vitrenko [27]4 years ago

6 0

Answer:

Just-in-time inventory management strategy

Explanation:

Just-in-time (JIT) is an inventory management approach where materials are availed when they are needed in the production process. Under this strategy, there is no storing of materials in a store. An organization will have minimal or nil inventory levels. The purchasing of materials is planned to coincide with the production process.

JIT requires accurate forecasting of production requirements. It needs reliable suppliers able to supply materials as ordered. The production process is demand-driven. The business manufactures the quantities to be sold then, as there is no storage of finished products. JIT increases efficiency by cutting down inventory management costs and wastage associated with inventory storage.

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"record revenue when goods or services are provided to customers" is the definition of which principle in accounting?

ASHA 777 [7]

Revenue Recognition is one of the principles of accounting which explain the conditions for recognition of a Revenue. According to this principle, a business should record the revenue when the goods or services are provided to customers. The principal further explains that the revenue should be measurable in terms of money and the collection of revenue should be done or it should be receivable.

Hence we can say that "record revenue when goods or services are provided to customers" is the definition of <u>Revenue Recognition</u> principle in accounting.

6 0

3 years ago

On December 31, Year 4, Deal, Inc., failed to accrue the December Year 4 sales salaries that were payable on January 6, Year 5.

Lesechka [4]

Answer:

Deal, Inc. working capital will be overstated while there will be a nil net effect on cash flows from operating activities.

Explanation:

The working capital of an entity is the difference between the entity's current asset and current liabilities at a given time or period. The operating activities of the cash flow statement is where the net income and changes in current liabilities are considered in the cash flow statement.

As such, when a company fails to accrue for sales salaries On December 31, Year 4, and the salaries are payable on January 6, Year 5, the current liabilities of the company would be understated and as such, it's working capital will be overstated.

Also, the net income will be understated as the corresponding entry in the accrual for sales salaries is an expense. Also, the ending balance of accrued sales salaries will be understated result in a nil effect on the operating activities of the cash flow.

5 0

4 years ago

An analysis of the competition suggests the average retail selling price of an electronic game is $89. The owner of a computer a

sukhopar [10]

Answer:

Yes, she should buy

Explanation:

The cost price of the electronic games is $55 per unit.

The selling price is $89 per unit.

The margin is dollar = selling price - cost price

=$89- $55

=$34

As a percentage, the margin will be

=34/55 x 100

=61.82%

If her normal margin is 35%, then the offer is good for her.

4 0

3 years ago

is the sum of all the values that customers exchange for the benefits of having or using a product or service.

snow_tiger [21]

Price. It is the sum of all values that buyers exchange for the benefits of having or using a good or service. can be defined very narrowly as the amount of money charged for a product or a service. However, the price is really more than that.

3 0

3 years ago

Read 2 more answers

Suppose you are planning a summer vacation and book a hotel room online for $149 a night. However, when you get to the reservati

Anettt [7]

Answer:

iii

Explanation:

Most of the time hotels will charge more when more rooms are booked, so when you book your hotel room, and many rooms are booked, most people do get charged more.

3 0

2 years ago