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Nonamiya [84]
3 years ago
10

A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision. A vision states th

e ethical values of a firm; a mission states the monetary goals of a firm. A vision states how much a firm wants to earn; a mission states how these earnings will be accomplished. A vision states the management values of a firm; a mission states the values of the other workers.
Business
1 answer:
Tju [1.3M]3 years ago
5 0

Answer:

<u>A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision.</u>

Explanation:

Defining a company's vision and mission is extremely important for its strategic planning, as its premises will serve as a guide to assist managers in the decision-making process.

The mission corresponds to the company's raison d'être, the reason for its existence and what its purpose is. The vision corresponds to the aspirations, objectives and goals that the company intends to achieve in the future. So it is correct to say that A vision affirms what a company wants to accomplish; a mission states how a company plans to realize that vision.

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LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

3 0
2 years ago
Downs Tax Planning Service bought communications equipment for $9,600 on January 1, 2017. It has an estimated useful life of fiv
MaRussiya [10]

Answer:

$960

Explanation:

For computing the accumulated depreciation, first we have to compute the depreciation expense which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($9,600 - $0) ÷ (5 years)

= ($9,600) ÷ (5 years)  

= $1,920

This is a full year depreciation but we have to find out for June 30,2017 i.e 6 months

= $1,920 ÷ 12 months × 6 months

= $960

The same is recorded as an accumulated depreciation

3 0
3 years ago
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
otez555 [7]

Answer:

Explanation:

1. The computation of the balance in retained earnings is shown below:

= Beginning retained earning balance + adjusted net income

where,

Beginning retained earning balance is $780,000

And, the adjusted net income is = Inventory × ( 1 - tax rate)

= $60,000 × (1 - 40%)

= $36,000

Now put these values to the above formula  

So, the value would equal to

= $780,000 + $36,000

= $816,000

2. The journal entry is shown below:

Inventory A/c Dr $60,000

   To Retained earning A/c $36,000

   To Tax payable A/c          $24,000

(Being inventory is adjusted and the remaining balance is credited to tax payable account)

4 0
3 years ago
Three reason why business require insurance
Margarita [4]
<span>it only takes one 

things happen

exclusions apply
</span><span>
</span>
4 0
3 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
3 years ago
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