Answer:
Confirmation of accounts receivables is not required when the account information is immaterial.
An account is said to have immaterial information when the account doesn't reflect any important or relevant information that can affect the opinions or decisions of shareholders, potential investors or creditors of the company.
The auditors have the responsibility of deciding what information is relevant and important and what is immaterial
The limitation of using short-term contracting as an alternative method to make an in-house component is that the supplier gets no reward in relation to transaction-specific investments for enhancing performance or quality.
Option D is the correct answer.
<h3>What do you mean by component in-house?</h3>
Component in-house refers to producing the goods or services in the company itself, that is, in the factories.
A short-term contract is a type of contract which is generally not more than one year. The supplier could not get any kind of profit or rewards from short-term contracts which they can use for raising its performance and quality. This happens due to the shorter duration of the contract.
Therefore, there are no gains to the suppliers from investments made in the short-term contract if they use it as a method of making an in-house component.
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Answer:
Explanation:
opening wip 100
Started 1000
1100
completed -800
closing wip 300
Using weighted Average process cost Table
cost opening current Total complete Wip equivalent Cost
head cost Units p.unit
material 1000 4500 5500 800 300 1100 5
CC 3960 21520 25480 800 180 980 26
30980 31
A) equivalent units of service (production ) for materials and conversion costs.
material 1100
CC 980
B)
unit costs
material 5
CC 26
31
Complete 800 31.00 24,800
Closing Wip
Material 300 5.00 1,500
Labour 180 26.00 4,680
6,180
Total Cost 30,980
Answer:
Selling.
Explanation:
The marketing function that has the most physical contact with the seller is selling, because most sales happen one on one between customer and seller.
Other aspects like promotion and product management has considerable physical contact with customers, but the most contact is with selling.
According to dr. w. Edwards Deming's quality movement and quality efforts need to be constantly and consistently improved.
Deming is widely recognized as one of, if not the founders of total quality management. Deming is largely credited with the revolution in Japanese manufacturing management that led to the economic boom of the 1970s and 1980s.
In the 1930s, Deming was intrigued by the idea of using statistics to improve quality control. His focus was on improving production and eliminating future failures by systematically collecting failure records and investigating and correcting root causes.
Deming's philosophy known as Dr. Deming's "Management Theory" and later "systems of profound knowledge" represent a holistic approach to leadership and management. philosophy brings together an understanding of variation, epistemology, psychology, and appreciation of the system.
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