In mass service and professional service, the operations manager should focus extensively on equipment maintenance.
<h3>What is the work of operations manager?</h3>
Operations management is a branch of management that focuses on planning, organizing, and redesigning the production process for goods or services as well as business operations. It comprises the obligation to make sure that business operations are effective in satisfying consumer needs while utilizing the fewest resources possible.
It is concerned with overseeing a comprehensive service or production system, which is the method through which inputs are transformed into outputs. Operations create services, control quality, and produce goods. Working with suppliers, customers, and technology are all aspects of operation management that apply to industries such as financial systems, hospitals, and businesses. One of the key roles in a corporation, along with supply chains, marketing, finance, and human resources, is operations.
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Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
Answer: The correct answer is "a. the ability of management to use accruals to reduce the volatility of reported earnings over time.".
Explanation: Income smoothing refers to <u>the ability of management to use accruals to reduce the volatility of reported earnings over time.</u>
The smoothing of earnings is a practice that consists in reducing fluctuations in recognized income and, therefore, fluctuations in earnings. That is, the smoothing of earnings implies saving income in bonanza times to recognize them accountingly when income is meager.
Answer:
it may be fixed order interval because the vendor is restocking every monday only.
Answer:
(d) all costs exclusive of payments to fixed factors of production.
Explanation:
The cost involved in the first three options is considered by economists as accounting cost. Economic cost involves the accounting cost, but it is added to the opportunity cost, which is the remuneration that an economic agent fails to receive for practicing one economic activity and not another.
For example, a business owner has fixed production costs, but it should add to his opportunity cost to be working in that firm rather than another economic activity.
