The above characteristics have been classified as belonging to the traditional or lean organizations as follows:
- Traditional - B. Maintain greater quantities of raw materials, work in process, and finished goods inventories.
- Traditional - C. Setup times are longer.
- Traditional - A. Manufacturing plants tend to be organized with self-contained production cells.
- Lean - E. Produce in smaller batches.
- Lean - F. Emphasis is placed on shortening manufacturing cycle times.
- Lean - D. High quality is stressed in every aspect of production.
<h3>Meaning of Lean and Traditional Organizations</h3>
A traditional organization is a business structure that has many workers and departments. They take time to set up and have a large inventory.
Lean businesses, on the other hand, produce in small batches and place emphasis on quality.
Learn more about lean and traditional organizations here:
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Answer:
1. Three pre requisite of fraud are:
Dishonesty, Opportunity, Motivation.
2. The red flags include,
Gambling habit of Steven Miller.
Global access of payroll software to a single employee.
Lack of segregation of duties.
3. The fraud will deteriorate financial statements and investors will not rely on the company's financial statements.
4. There should be audit of the financial statements, there can be recheck of the data by another employee which is entered into the payroll system, Sarah and Steven work should be segregated with some other employee of different department who rechecks all data of employee and verifies it.
5. There should be segregation of duties, there can be internal controls of the software which may restrict from entering dummy employees, there should be a supervision over Steven since he has gambling background.
Explanation:
There are three pre requisites of fraud which must be present for a fraud. If a fraud occurs in an organization then the reliance of lenders of finance is deteriorated. Steven is an employee who has been with Heavenly pastries for over a year. Since he has a gambling background there might be dishonesty present and he has access to entire payroll system there is an opportunity for fraud. Steven can be motivated for fraud so to avoid such a case Heavenly pastries should segregate duties of Steven with another employee.
Answer:
Explanation:
There are four possible outcomes
In favor, in favor
In favour, unfavor
Unfavor, in favor
Unfavor, unfavor
<u>Particulars Person</u>
<u>Outcome 1 2 </u>
1 For Against
2 For For
3 Against For
4 Against Against
These are the possible outcomes
Answer and Explanation:
The Journal entries are shown below:-
1. Anthony Trucking Dr, $19,000
To Sales A/c $19,000
(Being the sales made is recorded)
2. Bank Dr, $5,000
To Anthony Trucking $5,000
(Being cash received is recorded)
3. Wrote off A/c Dr, $14,000
To Anthony Trucking $14,000
(Being Account receivable write off the balance is recorded)
4. Bank Dr, $14,000
To Wrote off $14,000
(Being cash received is recorded)
2. High Performance 's direct write-off approach would face drawbacks because it breaches the matching principle. The matching theory involves be matching the spending of uncollectible accounts with the relevant revenues. Here uncollectible amount is treated as a bad debt expense. The written off amount is treated as uncollectible amount by the customer
Edu means education so normally it is a college or other school website
