Offer is a definite undertaking or proposal made by one person to another indicating a willingness to enter into a contract. The offer must be communicated to the offeree and must be <span>sufficiently definite and certain.</span>
An offer to enter into a contract can be terminated by lapse of time, r<span>evocation ,
counteroffer, rejection, death or incompetency of the offeror or offeree, destruction of the subject. </span>
If Frank makes Justin a night shift supervisor he would be engaging in the function of management that is called the Organizing function.
The organizing function is that stage that follows the planning stage. At this stage the resources would be distributed then the different tasks would be allocated to the personnel or employees that are responsible for them.
Delegation of these tasks to these personnel would be very useful because it helps to achieve those tasks that they set out in the planning stage.
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Answer:
Knowledge Check 01 Which of the following is deducted from the total selling and administrative expense budget to determine the cash disbursements for selling and administrative expense budget?
Depreciation expense is a non cash charge since there is no cash outflow associated to it. The same applies for amortization expense, asset impairments, stock based compensation and asset depletion (similar to depreciation but used by extracting companies like mines and oil companies).
Knowledge Check 02 A company determines that the number of units sold is the cost driver for its variable selling and administrative expense budget. The product of its variable selling and administrative rate and budgeted unit sales will be ________.
- total budgeted variable selling and administrative expenses
Since we are dealing with budgets, any calculation is also a budget or forecast. We are calculating here the total budgeted variable selling and administrative expense since we are multiplying the predetermined variable S&A per unit x budgeted units.
