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Butoxors [25]
2 years ago
10

_____ refers to the practice of ensuring that an organization's systems operate within required legal constraints, and organizat

ional obligations.
Business
1 answer:
NeX [460]2 years ago
4 0

Compliance refers to the practice of ensuring that an organization's systems operate within required legal constraints, and organizational obligations.

<h3 /><h3>What is Compliance?</h3>

Compliance as used by Government,Industry and Business  is  defined  as the  state or practice of following  established guidelines or specifications so as to align with the Specific standard of operation and  procedures.

Some Regulatory compliance examples includes:

  • Health Insurance Portability and Accountability Act (HIPAA)
  • Federal Information Security Management Act (FISMA)
  • Occupational Safety and Health Administration (OSHA).

It is therefore pertinent that Business and organisation adhere to specific guidelines to ensure smooth running of such organsations.

See more about Compliance: brainly.com/question/10555177

You might be interested in
8. Hayward Industries manufactures dining chairs and tables. The following information is available: Dining ChairsTablesTotal Co
Contact [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Dining Chairs - Tables - Total cost

Machine setups: 200 - 600 - $48,000

Inspections: 250 - 470 - $72,000

Labor hours: 2,600 - 2,400

A) A single overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (48,000 + 72,000) / (2,600 + 2,400)= $24 per direct labor hour

Now, we can allocate overhead based on direct labor hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Dining Chairs:

Allocated MOH= 24*2,600= $62,400

Tables:

Allocated MOH= 24*2,400= $57,600

B) We have to calculate an overhead rate for each activity cost pool.

<u>Overhead rate:</u>

Machine setups:

Estimated manufacturing overhead rate= 48,000/800= $60 per machine hour set up

Inspections:

Estimated manufacturing overhead rate= 72,000/ 720= $100 per inspection

Based on the overhead rate, we can allocate overhead to each product.

Dining chairs:

Allocated MOH= 60* 200 + 100*250= $37,000

Tables:

Allocated MOH= 60*600 + 100*470= $83,000

C) We can conclude that activity cost allocation is more accurate than using a single rate plant-wide. We can allocate costs more efficiently.

7 0
3 years ago
An option trader buys 1 ABC April 25 put. A few months later, the trader exercises the option. The trader's net sales proceeds e
Lina20 [59]

Answer:

[C] Strike price minus the premium

Explanation:

A put buyer refers to the one who purchases a right (and not the obligation) to sell(put) the underlying asset at a pre determined strike price/exercise price at a future date.

A put buyer is under no obligation to exercise his right of selling the underlying asset. He will exercise his right only when his strike price is greater than the current market price upon expiry of the contract.

Put Buyer's profit is expressed as;

= Strike price -  Option premium paid - Current market price upon expiry

Thus, his NET sales proceeds are equal to his Strike Price as reduced by Option premium paid.

6 0
3 years ago
Write the AddressList method newBusiness. This method searches addresses for an existing business with an identical address (i.e
max2010maxim [7]

Answer:

See explaination

Explanation:

// Address.java

public class Address {

/**

* The name of the business

*/

private String name;

/**

* The name of the street the business is on

*/

private String street;

/**

* The street number of the business

*/

private int number;

/**

* Constructs an Address that represents a business with name nm,

* at number no on the street st

*/

public Address(String nm, String st, int no)

{

name = nm;

street = st;

number = no;

}

/**

* Returns the name of the business

*/

public String getName()

{

return name;

}

/**

* Returns the name of the street on which the business is located

*/

public String getStreet()

{

return street;

}

/**

* Returns the street number of the business

*/

public int getNumber()

{

return number;

}

}

//end of Address.java

//AddressBook.java

import java.util.ArrayList;

import java.util.List;

public class AddressBook {

/**

* The list of business addresses. No two businesses in the list

* can have the same address (both the same street and street number)

*/

private List<Address> addresses;

/**

* Constructs an empty AddressBook

*/

public AddressBook()

{

addresses = new ArrayList<Address>();

}

/**

* atparam st the name of a street

* atreturn a list with the names of each business with an address on that street

*/

public List<String> onStreet(String st)

{

// create an empty output list of names of business

List<String> businessName = new ArrayList<String>();

// loop over the list of addresses

for(int i=0;i<addresses.size();i++)

{

// if ith street of address = nm, add the name of the business to the output list

if(addresses.get(i).getStreet().equalsIgnoreCase(st))

businessName.add(addresses.get(i).getName());

}

return businessName; // return the list

}

/**

* Searches for an existing business with an identical address (street and number

* both match). Updates the record to an address with name nm, street st and number no.

* If no entry already exists adds a new address to the end of the list with these parameters.

*

* atparam nm the name of the business

* atparam st the street the business is on

* atparam no the street number of the business

* atreturn the index of where the business address is on the list

*/

public int newBusiness(String nm, String st, int no)

{

// loop over the list of addresses

for(int i=0;i<addresses.size();i++)

{

// if ith index addresses match the street and number of the input st and no

if((addresses.get(i).getStreet().equalsIgnoreCase(st)) && (addresses.get(i).getNumber() == no))

{

addresses.remove(i); // remove the ith address from list

addresses.add(i, new Address(nm,st,no)); // add a new address with the input name, street and number at ith index

return i; // return the index i

}

}

// if no address match, add the business at the end of the list

addresses.add(new Address(nm,st,no));

return addresses.size()-1; // return the last index

}

}

//end of AddressBook.java

5 0
3 years ago
Formulating Financial Statements from Raw Data
Tpy6a [65]

Solution:

General Mills, Inc., Income statement for year ended May 25, 2003

Particulars                                               Millions $

Revenue                                                $10,506

Less Cost of goods sold                       - 6,109

                                                            ----------------

Gross profit                                            4,397

                                                            ----------------

Less operating expenses                     - 3,480

                                                            -----------------

                                                                  917

                                                             -----------------

Balance sheet May 25, 2003

Assets             Million $            Liabilities                             Million $

Cash                  703                 Total Liabilities                      13,752

Non cash           17,524            Stockholders' equity              4,475

Total assets       18,227             Total Liabilities & equity       18,227

Statement for cash flows for year ended May 25, 2003

            Particulars                                                     Million $

    Cash from operating activities                                 1,631

    Cash from financing activities                                 - 885

    Cash from investing activities                                 - 1,018

                                                                                    --------------

   Net change in cash                                                      -272

                                                                                    ----------------

   Cash, beginning year                                                   975

                                                                                     -----------------

                                                                                           703

A negative amount for cash from financing activities reflects the reduction of long term debt

                   Profit margin = ( Net income / Revenue ) * 100

                                         = ( 917 / 10,506 ) * 100

                                         = 8.72%

                   Asset turnover = Revenue / total assets

                                             = 10,506 / 18, 227

                                             = 0.57

                  Return on assets =( Net income / Total assets ) * 100

                                                = ( 917 / 18, 227 ) *100

                                                = 5.03%

                  Return of equity = ( Net income / Total shareholder equity )*100

                                               = ( 917 / 4,475 ) *100

                                               = 20.49%

4 0
3 years ago
It is not possible to create a per unit MCS if you are given total revenue and selling price. True False
tekilochka [14]

Answer:

True

Explanation:

A per unit MCS cannot  be created if you are given total revenue and selling price because per unit MCS is created by dividing  the given total revenue  by the total units of products ( for revenue per unit of product )

And also dividing the total cost by the total units of products ( for cost per unit of product ) hence the absence of the number of products will make it impossible to create a per unit MCS.

4 0
3 years ago
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