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d1i1m1o1n [39]
3 years ago
10

Why is doing timely reconciliations a key part of internal control activities? It ensures that

Business
1 answer:
kati45 [8]3 years ago
3 0

Answer:

It ensures that the Effective internal control reduces the risk of asset loss, and helps ensure that plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the provisions of applicable laws and regulations. ... Why internal control is important to your plan.

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Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual
Luden [163]

Answer:

The option (c) $89,100 unfavorable is correct

Explanation:

Solution

Recall that:

The actual price per gallon = $11.75

Actual gallons of material used= 5,000

Actual hourly labor rate= $17.00

Actual hours of production= 24,300

Standard price per gallon =$12.00

Rate of labor = $12.00

Now,

We find the total direct labor variance which is computed as follows:

Total Direct Labor Variance = Actual Direct Labor Cost - Standard Labor Cost

=24300*17 -3*9000*12

= 413,100 -32400

= -89,100 (unfavorable)

Therefore, the total direct labor variance is $89,100

5 0
3 years ago
jeremy has focused on developing his listening skills and using his​ firm's new intranet technology to better convey information
Anastaziya [24]

Jeremy has focused on developing his listening skills and using his​ firm's new intranet technology to better convey information. Jeremy is focusing on the employability skills of communication.

Communication is an essential employability trait in today’s fast-paced and interconnected world. It consists in the capacity to exchange information with other people through various mediums, ranging from direct conversations, to the written form, to even televised form such as the TV ads.

Open and genuine communication in the workplace is key to fostering a healthy work culture. It is a top trait of the team player. Managers need to be effective communicators to ensure employees are committed to the organization’s values and understand their specific responsibilities. Communication is essential to concluding beneficial partnerships and expanding one’s consumer bases.

To learn more about communication skills: brainly.com/question/28147993

#SPJ4

3 0
2 years ago
Classical management theory and human relations methods contrast significantly with each other in what ways? 1. Classical theori
Mamont248 [21]

Answer:

1. Classical theories were the earliest theories developed in time, while human relations theories developed later as a reaction to the classical management.

Explanation:

Classical management theory and human relations theories contrast greatly. It can be said that classical theories were the earliest ones developed, while much of the human relations theories developed later as a reaction to them.

Classical theories align with McGregor's Theory X and also in some top-do with-downs. They feature strict division of labor into different categories, including levels of management. Planning and communication are done in a "top down" fashion, meaning that information flows from top management downward.

8 0
3 years ago
Read 2 more answers
Why do we need an organizational structure?
san4es73 [151]

Structure will give employees more clarity, help manage expectations, enable better decision-making and provide consistency.

7 0
3 years ago
In considering the BP Oil Spill, what circumstances would ethically justify a government or private company in restricting infor
Zanzabum

Answer with its Explanation:

<u>Part A.</u>

There must be a clear information sharing policy of an organization like BP Oil Spill to restrict the inappropriate operations and reduce the negligence of the organizations so that they might not effect the future and present generation. Its evident that in technologically advanced era, the flow of information is just one internet search away. So the restricting of information is mostly impossible and that the restricting of information like Oil Spill can be far much dangerous for both land and marine life. So here, clear policy of defining the type of information to be conveyed to general public would be very useful. It is also one of the best practice that sustainability stresses upon which says that the operations that undermine or compromises the needs of the future generations must be abandoned.

There must also be a recovery policy for the ecosystem that we had damaged and thanks to social entrepreneurs who are doing this job much better than most of the multinational organizations.

There are also situations where the restricting the information is allowed and includes the following situations that permits the restriction of information:

  • If the information is not accurate then it is advice that the organization must wait until the situation is crystal clear to be interpreted and disclosed to the general public.
  • If the provision of information can lead to security threats then it must be kept confidential till the time the security threat has been eliminated.
  • If the flow of information leads to the increase in the chaos and stress among the people then it must be retained during a disaster.
  • If the information results in increase in protests and affects the normal life of general public then it must be restricted for general public.
  • If an information promotes war among the nations then it must be restricted.
  • If the information that is for small time interval and has potential harmful outcomes due to disclosure of information then it must be retained by the organization.

The above mention points make it clear that the information can only be disclosed if the sensitivity of the matter is lost with time. The disclosure is compulsory because now it is the ethical requirement of the company to disclose the information. The disclosure of information must include the reasons that explains the issue and its root causes. Furthermore, it must also address the reason behind the retention of information and how it was in the best interest of the nation.

<u>Part B.</u>

In the time environmental disaster, every single person on earth has a moral duty to help each other to assist in recovery of the damage from the environmental damage. Likewise the organizations are playing their part during current pandemic to help the world recover from the losses they had born due to virus affecting the operations of all the companies and human beings.

Following are the situations in which the organizations must play their role in the time of environmental disaster:

  • If the environmental disaster is of potential magnitude that the ethical values imposes the duty to act then the company must play its role.
  • The company has to act if the country has limited resources to take action and can not control the situation without the assistance of the companies.
  • If the disaster has endanger the Biotic environment then the companies must do more.
  • If the impact on the environment is continuously growing with time and if the companies are not taking right actions then it is possible that in the near future the harm to the society will be large and symptoms will become prominent as well.
  • If the environment disaster is large enough that it will spoil the reputation of the industry and as result results in harm to numerous stakeholders of the industry or if the whole of the industry would be blamed for negligence.
7 0
3 years ago
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