organisational plan and all the related measures that an entity adopts to: * safeguard assets * encourage adherence to company policies * promote operational efficiency * ensure accurate and reliable accounting records. It is either an administrative control or an accounting control Characteristics of an effective internal control system include: * Competent‚ reliable‚ and ethical personnel * Assignment of responsibilities * Proper authorisation * Separation of duties
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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Whole Foods Market Analysis Gloria Rios Management 521 April 17‚ 20102 Randy Schumacher Abstract As a mutual fund manager I will be deciding whether to invest in Whole Foods Market‚ a Fortune 500 Company. The growth rate from 1991 to 2011 is 26%‚ with a remarkable consistency from year to year. Their resilience is noted in their decision making processes which resulted in a successful recovery from the recession. The SWOT Analysis shows strengths in their growth strategy and expanding
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Family vs. Fine Dining When choosing a restaurant it is all about the reason or reasons behind the event. Is it an intimate meal for two‚ a meal with the family or just a day out with a friend? Many occasions have different needs‚ however when one chooses to dine out it is all about having a celebrated‚ time with family‚ love ones‚ friends and a meal; no grocery shopping needed‚ cooking‚ or clean up. As a consumer‚ one needs to know the difference between family and fine dining in order to receive
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ID Number: 3765990 MGTS 4481: Section 002 Industry Analysis Introduction According to Market Research‚ the packaged food industry “consists of all types of foods and/or beverages found in mass‚ gourmet‚ and specialty markets internationally. These products range from raw ingredients like spices‚ to convenience products like ready-made meals. Packaged foods can be shelf-stable‚ refrigerated/frozen‚ and can be packaged in bags‚ bowls‚ bottles‚ boxes‚ brick packs‚ cans‚ cartons‚ crates‚ jugs‚ packets
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4 Characters: Dina‚ Ishvar‚ Om‚ Maneck. Ishvar is Om’s nephew. Dina is widowed. Maneck college student. Dina Shroff‚ who was raised by her strict brother after her father died she meets Rustom Dalal. The couple fall in love and marry‚ but on their third wedding anniversary Rustom is killed in a bicycle accident‚ leaving Dina alone. Rustom’s aunt teaches Dina to sew her eyesight begins to fail‚ so she is forced to find another way to make money Her friend Zenobia introduces
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ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare the adjusted trial balance‚ enter adjusting entries
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Mission/External Analysis According to Whole Foods Market‚ Inc.’s Form 10-K from 2002‚ the company’s "goal is to become an international brand synonymous with not just natural and organic foods‚ but with being the best food retailer in every community in which we are located." The vision of Whole Foods goes deeper than just being a successful grocery store. The company is dedicated to ultimately improving the world in general; it plans to do this by continuing to focus on its immediate visions
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A. What is the difference between accrual-basis accounting and cash-basis accounting? The difference between the two types of accounting is when revenues and expenses are recorded. In cash basis accounting revenues are recorded when cash is actually received and expenses are recorded when the expenses are actually paid. B. Why would politicians prefer the cash basis over the accrual basis? The accrual basis system deals with deprecation of the value of equipment‚ land and such. Politicians would
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employees is fair. In most cases when a union is involved‚ there is a percentage of compensation that has been agreed upon. 1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s
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