Answer:
The answer to this question is E. Forming
Explanation:
The forming stage of team development is the stage where team members establish ground rules and try to find out what behaviors are acceptable and what performance expectations are.
It is the stage where group members learn what to do, how the group is going to operate, what is expected, and what is acceptable.
The group members needs high degree of guidance from the team leader or the team manager in other to be able to understand their individual roles, understand the purpose of the team and organised the team structure.
Hence the answer is E. Forming stage.
<h2>Estimated losses on the overall contract are recognized before the contract is completed. </h2>
Explanation:
Revenue recognition cannot be done prior to the completion of contract.
But the asset can be created. Only after the contract gets completed the revenue recognition can be realized.
For a long-term project, the revenue can be recognized based on the percentage of completion.
Revenue recognition keeps financial transactions aligned.
Option A: valid
Option B Invalid, because expenses are also recognized
Option C: This process is acceptable.
Option D: Gains and profits are calculated in this type of method
Excavation, Inc., uses explosives to prepare land for construction projects. Strict liability is imposed on this activity because The activity is extremely risky
<h3>Option (C) is correct.</h3>
<u>Explanation:</u>
Excavation activity is an extremely risky activity. This activity has many accidents associated with it. every year many people die or get injured in accidents related to excavation. So due to the high risk associated with this strict liability is imposed on this activity.
Risks associated with excavation are explosion, gas escape, flooding, etc. Other dangers like hazardous atmospheres, the possibility of fatal accidents, Falling loads can also be there. These dangers are sudden and fail to give time to workers to escape. So before undertaking such activity permission must be obtained from the government.
Answer:
Total overhead $
Indirect material ($0.5 x 200,000 units) = 100,000
Utilities ($0.25 x 200,000 units) = 50,000
Supervisory salaries = 60,000
Building rent = 80,000
Total overhead 290,000
Overhead rate = <u>Budgeted overhead</u>
Budgeted direct labour hours
= <u>$290,000</u>
100,000 hours
= $2.90 per direct labour hour
Explanation:
In this case, we need to obtain the total overhead, which is the total of indirect material, utilities, supervisory salaries and building rent.
Then, we will divide the total overhead by direct labour hours so as to determine the overhead rate.
Answer:
D) All of these
Explanation:
World class performance measures can be used in different functional areas, for example International Organization for Standardization (ISO) norms apply to all the functional areas of a company:
- ISO 9000 - Quality Management
- ISO 27000 - Information Security Management Systems
- ISO 14000 – Environmental Management
- ISO 31000 - Risk Management
-
ISO 50001 - Energy Management
- ISO 26000 - Social Responsibility
- ISO 28000: 2007 – Specifications for Security Management Systems for the Supply Chain
-
ISO 37001: 2016 Anti-Bribery Management Systems
- ISO 45001 – Occupational Health and Safety
- ISO 22000 – Food Management Systems
Other types of world class performance measures that are not as established and recognized as ISO norms, but are gaining momentum in modern management like World Class Manufacturing (WCM) framework focus on four main areas:
- Manufacturing competitive products: measure quality performance
- Manufacturing product mix and volume: measure cost performance
- Short lead-times and make-to-order: measure delivery performance
- New product introductions: measure flexibility performance
