A local Chamber of Commerce plans a seminar on “the social responsibility of business in our community.” What does that term reference?
( The expectations that the community imposes on firms doing business inside its borders.) correct answer of your question ✅
Answer:
predictions for the future are required.
Explanation:
Expert system is defined as a computer system that mimics the decision making ability of a human being. It does this by using bodies of knowledge to solve complex problems.
Expert systems is made up of the knowledge base and the inference system. Facts are analysed and inferences about future outcomes are presented.
This is a useful tool for making accurate forecasts.
The complete question is:
Niles, an accountant, certifies several audit reports on Optimal Operational Processes, Inc., Nile's client, knowing that the company intends to use the reports to borrow money from Prime Business Lending Company to buy new equipment. Niles believes that the reports are true and does not intend to deceive Prime Business, but does not check the reports before certifying them. Can Niles be held liable to Prime Business?
Answer:
Yes can be held liable
Explanation:
An accountant that certifies audits of a company is expected.to do his due diligence. In this scenario Niles believed that the reports are true without checking them.
This is an act of negligence on Nile's part and he can be held liable for damages resulting from the oversight.
The certified audit report is not only being used by Prime business but other third parties like investors and other stakeholders. Any of these can hold Mike's liable for any misleading information in the audit reports
Why estimated overhead costs (rather than actual overhead costs) are used in the costing process is explained below.
A predetermined cost is an expenditure that a company estimates ahead of time.
This cost is calculated prior to the purpose of production and includes all variable costs that affect production in a manufacturing business.
Actual overhead costs are difficult to calculate for each job, especially in a production environment with a large number of jobs.
As a result, overhead costs are allocated according to some standardized methods, which may link overhead costs to direct labor, machining time, and material used in each job.
Manufacturing overhead in a manufacturing organization refers to indirect costs that are required for production but cannot be traced back to individual products.
Machine depreciation and factory rental are two examples of manufacturing overhead costs.
Hence, computation of predetermined overhead rates is given above.
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