Chapter 7 Definition of Internal Control – the process implemented to provide reasonable assurance that the following control objectives are achieved: safeguard assets‚ maintain detailed records‚ provide accurance and reliable info‚ prepare financial reports in accordance w/established criteria‚ promote operational efficiency‚ encourage adherence to prescribed managerial policies‚ comply w/ applicable laws Preventive controls – deter problems before they arise. Examples: hire qualified personnel
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Business Law What is Business Law? Businesses interact in many and varied ways. To name just a few types of business transactions‚ there are contracts‚ mergers and acquisitions‚ leasing‚ etc. How these transactions are carried out is overseen by Business Law. Additionally‚ how businesses are formed is a large part of Business law. This area of law is very wide-ranging‚ although it deals primarily with defining the rights and responsibilities of businesses‚ rather than enforcing these laws. Because
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Erin Smith Exercise 11.2 Question 1: What are the “two greatest contributors” to contract disputes? Why is it a good idea to use plain English instead of legalese when drafting a contract? What is a “letter of intent? ” What might be included in a letter of intent to avoid future disagreements over the legal effect of the letter? The two greatest contributors to contract disputes are a) failure to address all possible situations‚ whether deliberately or not‚ and b) ambiguity in the provisions
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MGMT 310 Hot Coffee Essay 3-31-13 Hot Coffee This film was very interesting to watch. It made me realize how many frivolous lawsuits that have occurred. The Stella Liebeck case was huge example. Yes I understand she suffered third degree burns and had to be hospitalized for a week or so to recover but it could have possibly been prevented. The right thing to do would be to be careful when handling the cup of hot coffee. The cup itself says to be careful and why would anyone put a cup of
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careless. a) When carrying out the first annual service‚ Crankit fits a new fuel pump. This malfunctions 24 hours later‚ causing an explosion. Injuries result to Jeremy‚ who lives next door to the factory and the explosion also causes business interruption for 3 weeks. Contract of works and materials - service and goods being provided - SUPPLY OF GOODS AND SERVICES ACT 1982 The fuel pump is defective (not clear if its defective)- s4(2) and (3) - it seems that C supplied this. Discuss
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Behavior-Oriented Rating Method VS. Results-Oriented Rating Methods The behavior-oriented rating method focuses on an employees behavior. There are two ways that behavior-oriented method is used: employees behavior is compared against other employees or an employee evaluated in terms of performance without reference to others (2005). These two systems are known as relative rating system and absolute rating system. Under the behavior-oriented rating method there are several ranking systems to choose
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Q. 1. A insured his house against fire. Later while insure‚ A killed his wife‚ severely injured his only son‚ set fire to the house and died in the fire. The son survived and sued the insurer for the fire loss‚ advice the insurer. Explain briefly? (5 Marks) Q.2 a) Satrang Singh admitted his only infant son in a private nursing home. As a result of strong dose of medicine administered by the nursing attendant‚ the child
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Chapter End Questions Chapter 12-12.1‚ 12.3 Chapter 13-13.4‚ 13.5‚ 13.7 Chapter 14-14.3‚ 14.5 Chapter 15-15.2‚ 15.3‚ 15.4 12.1 Jerome is an elderly man who lives with his nephew‚ Philip. Jerome is totally dependent on Philip’s support. Philip tells Jerome that unless Jerome transfers a tract of land he owns to Philip for a price 30 percent below market value‚ Philip will no longer support and take care of him. Jerome enters into the contract. Discuss fully whether Jerome can set aside this contract
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Question 1 (b) The problem looks at whether the existence of contract entitled Albert to claim for a breach of contract from Charlie with four elements of contract to be established here: that the offer been made by Albert and has been accepted by Charlie‚ that parties intend to create legal relationship and that the consideration was provided. The issue here is to determine if a reasonable person would consider offer had been made. An offer may be described as the indication of one person to another
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Junyi Zheng Course MGNT3145 Professor.Toson Date 06/23/2013 Facts Mitsubishi has a contract with Crown Door Company which requires Mitsubishi to sell twelve boxcar loads of plywood to Crown and Mitsubishi should import the wood from Taiwan and deliver it to Crown’s plant in Atlanta.Mitsubishi shipped the wood from Taiwan to Savannah.However‚ in Savannah‚as the railroad was negligent in loading the train which caused the cargo to shift during the trip‚finally the wood got damaged. Issue The
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