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Lubov Fominskaja [6]
3 years ago
11

Activity-based costing systems: Eliminate multiple-stage cost allocation. Accumulate overhead costs by departments. Have separat

e overhead rates for each activity. Can be used in manufacturing firms only. Are less complex and therefore less costly than volume-based systems.
Business
1 answer:
kherson [118]3 years ago
3 0

Answer:

Eliminate multiple-stage cost allocation. Accumulate overhead costs by departments and Have separate overhead rates for each activity.

Explanation:

Activity-based costing systems are used to allocate indirect costs to Products. This is because indirect costs can not be traced directly to the product being produced or cost center. So, Activity-based costing systems can be used in any industry. The main point in Activity-based costing systems is how to allocate general cost or general expenses to each cost center or product.

Thus, identification of activity costs centers and activity costs drivers to allocate the overheads is costly and takes a lot of time. However these systems eliminate multiple-stage cost allocation. Accumulate overhead costs by departments and have separate overhead rates for each activity.

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- Name the six business management perspectives that go beyond planning, controlling, and decision making?
wel

Answer 4:

Following are the six business management perspective:

  1. Ethical Stance
  2. Strategic aspects of the decision
  3. Risk Management
  4. CSR Aspect
  5. Process Management Aspects
  6. Leaders Perspective

Answer 5:

IMA stands for Institute for Management Accountants.

The IMA Statement of Ethical Professional Practice has listed following four standards for the professionals who are member of IMA to comply with:

  1. Competence: The member must be competent in his role in accordance to his experience, skills, knowledge, complying laws & regulation and always acting ethically.
  2. Confidentiality: Must not breach the confidentiality implied duty on him except in situations when disclosure of information is mandatory by law.
  3. Integrity: Must be straight forward and there must be no self interest in his dealings with the company and must considerably reduced.
  4. Credibility: Communicate the results with unbiased decision making.

Answer 6:

Because freedom does not means that our self interest is everything. We owe duty of care to people who rely on our acts. An accountant, auditor or internal auditor must act ethically or universally that benefits everyone without breaking the laws and ethical duties imposed by the professional bodies. If we go back to Enron case, we see that the External auditor was not acting in the public interest and as a result Enron which was the world's first $100 billion dollars company collapsed. The collapse of Enron bankrupt many pension companies which further affected the lives of the ordinary person in the USA. Furthermore, due to collapse of Enron, a lot of people withdraw the amount invested in Stock exchange. Dozens of companies and millions of people suffered from this unethical behaviour of professionals.

Answer 7:

Corporate Social Responsibility means that the company is just like an human being and its operations must not harm the environment, so this the least duty which the stakeholders expect from them. Being a good social beings, the companies must try to stable the environment situation in its surrounding and wherever its stakeholders live. For Example, The refinery companies have stopped poluting the oceans with their oil spills, now they have opted to newest technology that will eliminate the harmful effects of their oil spills and bring stability in the environment.

Another example includes the lower usage of natural resources. In UK it is the companies responsibility to reduce its natural resources usage which will lower the pollution. This additional care has a cost and may lead to lower competitiveness of the products so there must be a law globally that enforces to act socially responsible.

7 0
3 years ago
Grace makes $2,200 per month. She spends $300 on credit card payments, $120 per month for a furniture purchase, and $450 on an a
svp [43]
If you add 300+120+450 you will get 870 so just subtract. 2,200-870 to get 1330
3 0
3 years ago
Which of the following personal property items has the HIGHEST specific limitation on coverage?
Charra [1.4K]

The personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>

A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.

Some of these specific limits apply to a building or personal property at a single location.

From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

Learn more on specific limitations on coverage here: brainly.com/question/27015627

8 0
2 years ago
Fred promises barney $25,000 to not open his proposed business in the same city. they sign a contract stating that fred promises
Vlad1618 [11]
Fred will either have to pay more than he proposed or Barney would be able to open his business in the same city
7 0
3 years ago
A social responsibility theory of business according to which a corporation's duty is to make a profit while avoiding causing ha
Lena [83]

Answer:

The answer is moral minimun.

Explanation:

The moral minimun is the less acceptable standard for ethical business behavior. Normally considered to be compliance with the law.

In other words, is the minimum degree of ethical behavior expected of a business firm, which is usually defined as compliance with the law.

4 0
3 years ago
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