The correct answer is 1.2 minutes on each question.
Answer:
TRUE
Explanation:
Open Internal recruiting is one of the main types of recruitment a company can employ in filling vacancies. In open internal recruiting, an organization declares vacancies <em>open to anyone within the organization</em>. Positions are open to anyone, within the organization, that is qualified and better suited for the job opening. Anyone within the organization who meets the requirement can apply, and is given equal consideration and opportunity in the selection process, as it is inclusive. Job openings are <em>not open to anyone not within the organization</em>.
Answer: d. Timm can deduct the expense in the year of payment.
Explanation:
A Contingent Liability refers to a liability that a company MIGHT incur if a future event happens. It is mostly often used for law suits in case a company has to pay damages. They will thus accrue the expense in readiness to pay it off should the need ever arise.
While Timm will record it in the books, there is no need to deduct it from the income yet. Timm should wait until the year they will have to pay to deduct it. That way the expense will be correctly apportioned to it's corresponding period.
Answer:
FIFO method of inventory valuation produced the lowest of goods sold at $2000
Explanation:
The implication of FIFO producing the lowest costs of good sold is that profit under FIFO method will be much higher since a lower costs of good sold is deducted from sales revenue to arrive at gross profit for the period
In addition, higher gross profit is also a pointer to higher net income and higher tax expense overall.
In order to manage tax exposure effectively,the LIFO method of valuation would be the best option as it has the highest costs of good sold,hence lower profit figure and lower tax liability
Answer:
Hi
The factors of production are the basic elements to produce goods and services to meet our needs. They can be nature, work and capital, but currently, it considers that there are five productive factors, since the three already mentioned have been added, the human knowledge that is incorporated into the work and technology factor, which is incorporated into the capital.
- Natural resources. They are those that are available in nature and are used as raw material (minerals, trees, plants) or as a source of energy (water, oil, wind) in the production of goods.
- Capital. It is the financial resources, such as money, that must be invested in the production of new goods or services. Material resources are also counted as part of the capital factor, it is the set of material goods created by people and used to produce goods or services.
- Job. Most important productive factor and refers to the physical and intellectual effort developed by people, with the objective of intervening in the productive activity. Its effort, its educational level, its technical training and professionalism, as well as its values are essential for the quality of the production process and the success of a company.
Explanation:
