Answer: D. supervisors gain experience in and are accountable for solving problems in their work units.
Explanation:
A chain of command is necessary in business because it diversifies authority such that decisions can be made faster.
It works by dividing employees into units which will answer to a manager. That manager will make decisions for the unit and this leads to decisions being made faster because everybody wouldn't have to go to upper management when they already have a manager.
Supervisors/ managers of these units are therefore accountable for their units and will gain experience from being so.
Answer:
Please find the detailed explanation below.
Situation 1 and 2 have disclosure while situation 3 does not require any disclosure.
Explanation:
Situation 1. Accrual. The one-year warranty has created what is known as contingent liability. Contingent liability is a type of liability that is dependent on the outcome of some specific actions which has happened in the past. The eventual liability may or may not happen. But since the probable claim from the one-year warranty has been determined, it should be disclosed. But if the claim cannot be determined, it shouldn't be disclosed.
Situation 2. Since this contract happened before the issuance of financial statement and the amount of loss from this contract can be reasonably estimated or determined, then it must be disclosed and the likely amount must also be disclosed. This disclosure will be under 'note to the financial statement'.
Situation 3. This is a self insurance and self insurance is not an insurance. There is no contingent liability in this situation. Also, there is no accident, no injury. Hence, this is no disclosure here.
Answer:
A) $1,050,000
Explanation:
Residual income
= Net operating income - (Total assets*Target rate of return)
= 1,250,000 - (20%*1,000,000)
= $1,050,000
Therefore, The division's Residual Income is $1,050,000.
After a recession when the economy starts to expand again, firms tend to increase share repurchases faster than they increase dividends.
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
Economy is defined as the management of community, business, or family financial matters. An example in economics is the US stock market system.
The economy is the system in which goods are produced and exchanged. Without a viable economy, the nation will collapse. There are three main types of economy: free market, command economy and mixed economy.
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