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3 years ago

Questions to ask my lecture on external and internal relationships in bussiness

Business

1 answer:

Murljashka [212]3 years ago

7 0

Answer:

Have we inventoried the third party relationships that exist in our organization today?

How are we identifying and tracking new or changing relationships?

Have we assessed and prioritized the risks related to those relationships?

When evaluating new relationships, do our selection criteria address risks to the organization?

Where applicable, do our agreements and contracts include adequate terms and conditions to require third-parties to provide independent assurance to mitigate potential risks, convey trust and confidence, and demonstrate compliance with laws and regulations?

Are responsibilities to manage these risks clearly defined individually for each third-party and as a whole?

Are we monitoring the various risks and contract requirements associated with each existing relationship and at what interval?

Are these relationships dependent on subservice organizations?

How do we gain comfort that information provided by third-parties is valid, accurate, and complete?

Does our risk assessment process identify potential negative events resulting from third party relationships and include procedures in place to respond?

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Meadows Manufacturing follows the accrual system. An accrual results when ____________ and a deferral results when __________.

SashulF [63]

Answer:

A . $6,000 cash is received after a customer has been billed; $4,500 cash is paid for next quarter's insurance for property.

Explanation:

The accrual system is a bookkeeping method where expenses and income are recognized as they are incurred regardless of whether money has moved in or out. In the accrual method, a sale will be recorded when an invoice is generated even if the customer has not paid.

Expenses are also recorded are they are incurred. Material ordered will be recognized as an expense when the order is prepared, and not when payments were made. The accrual system makes the comparison of income and expenses for a period possible. One drawback is that a firm pays taxes for incomes it has not actually received.

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3 years ago

Assume that John and Jane each work 24 hours. What happens to total production if instead of each person spending 12 hours produ

Vesnalui [34]

Answer:

A. The total production of bread and wine rises

Explanation:

<u>Note: The question appeared incomplete as neither John's nor Jane's production efficiency is provided. A similar question has been attached for reference purpose upon which this answer is based</u>.

Jane takes 2hrs for making a bottle of wine while John takes 3 hours for preparing a bottle of wine. Hence Jane is more efficient in production of wine than John and if Jane devotes more hours to wine production, the production of wine shall rise.

Similarly, John is more efficient in production of bread as he takes 1 hour for producing a loaf of bread against Jane who takes longer i.e 1.5 hours. Thus, if John devotes more time in preparing bread, the production of bread shall rise.

Hence, the correct answer is (A). The total production of bread and wine each rises.

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3 years ago

Adel wants to get $100 immediately to pay for concert tickets. He currently has no cash or income, but he has a nice gold watch

mojhsa [17]

Adel could easily just pawn the watch from cash but might not have a 500$ even, I say its B.

3 0

3 years ago

Accounts that are increased with a debit include A : revenue. B : assets. C : equity. D : liability.

Akimi4 [234]

Answer:

B : assets.

Explanation:

As we know that

The debit side records the expenses, assets, and losses plus there is always a debit balance. If there is an increase in these above accounts than it also contains a debit balance

While the credit side records the revenues, gains, liabilities, and the stockholder equity. If there is an increase in these above accounts than it also contains a credit balance

3 0

3 years ago

During the current year, the following manufacturing activity took place for a company's products. The beginning work–in–process

yarga [219]

Answer:

During the current year, the following manufacturing activity took place for a company's products. The beginning work–in–process, 70% complete, was comprised of 10,000 units. Units started into production during the year totaled 150,000 units. A total of 140,000 units were completed during the year. The ending work–in–process, 25% complete, was comprised of 20,000 units. What was the number of equivalent units using the first–in, first–out method?

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3 years ago