Complete question:
amber is in charge of preparing an annual budget for her company. as part of the budgeting process, she must estimate COGS and ending inventory. which of the following statements is correct regarding the use of the gross profit method
amber must take a physical inventory to determine ending inventory and COGS
amber may utilize the gross profit method, but must also take a physical inventory
amber may utilize the gross profit method to estimate ending inventory and COGS
Answer:
Amber may utilize the gross profit method to estimate ending inventory and COGS
Explanation:
The gross profit method is a strategy used to measure the value at the end of the product. The method may be used with monthly accounting statements where a physical warehouse is not feasible.
(However, it is not a substitution for an actual physical inventory.) It is often used to measure the volume of lost products incurred by burglary, accident or other disasters.
For example, if a business buys products of $80 and sells them for $100, the gross profit is $20.
Answer:
all of the above
Explanation:
Conflicts of interest pose a problem because they lower the quality of information , increase problems of asymmetric information and make the financial system less efficient.
Conflict of interest cause due to poor communication in the organisation , poor selection of staff misunderstanding between the employees between the departments head , personal stress or frustration , and poor process of planning , lack of trust , ego issues , shyness , not interested to communicate all the above mentioned problem can cause the conflict of interest . These need to be correct to avoid the conflict of interest.
These can be done through by establishing a proper process , leave ego and start communicating and discussing the problem and issues , develop proper communication process in the organisation so that it can help in develop trust in the organisation among the employees , start compromising sometime , try to avoid sometime , try to manage stress , all these above mention tips may help in avoiding the conflicts .
Thee is always a need to resolve the conflicts because the consequences of conflicts are not good for the whole organisation.
Management by objectives includes developing and issuing assignments, plans, procedures and protocols to accomplish tasks.
<u>Explanation:</u>
NIMS is a comprehensive national approach to the incident management that is applicable at all the jurisdictional levels and across all the functional disciplines. The major purpose of NIMS is to improve the coordination of the public and the private enterprises in a variety of incident management activities.
There are certain management characteristics of NIMS. Some of them are common terminology, modular organisation, management by objectives, incident action planning and many more.
Answer: It is important to establish limits through the partnership agreement, because by trust there could be disagreements in the future, some ideas for this agreement are the following:
I. The dividends resulting from the coffee shop profits must be distributed equally and will correspond to the amount resulting from discounting sales less costs and expenses.
II. Personal loans will not be allowed to the owners with the money taken from the coffee shop box.
III. It will not be allowed to consume the products of the coffee shop without paying what corresponds.
IV. Both owners will have the same rights to perform the duties of a manager.
Answer:
parenting time or visitation
Explanation:
