What is a special order? How does operating capacity affect a special order? In what scenario would a special order be accepted

Q: What is operating leverage, and for what is it used?

A: Operating Leverage is a cost-accounting formula used to measure the growth of its operating income.…

Q: What constitutes a dicontinued operations.?

A: Definition:   Income statement: The financial statement which reports revenues and expenses from…

Q: How do automated authorization procedures differ from manual authorization procedures?

A:

Q: Which of the following orders allows for partial execution?

A: FOK (Fill or Kill Order): This type of order allows being executed immediately at the specified…

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: What is the basis for distinguishing between operating and nonoperating items?

A:

Q: What is an operating segment?

A: Operating segment: It is defined as providing information about the business actives with an…

Q: What is meant by the phrase management by exception?

A:

Q: What is the function of the optional delivery commitment?

A: Delivery Option:It allows to switch a short position to a different grade or quality for a standard…

Q: What is FASB and where does it get its power?

A: FASB:  FASB is also called a Financial accounting standards board setup to provide standards and…

Q: What is the difference between operating departments and service departments?

A: There are so many multinational corporations that manage difficult industries. Managing such…

Q: What is shared service agreement menas in a internal control system?

A: Internal Control System:-It is a set of rules and protocol which the company and management set for…

Q: Why is it important to distinguish flexible and committed resources?

A: The economic elements that allow one to perform activities are referred to as the resources.…

Q: What is internalization?

A: Internalization: It happens when an individual directs an exchange itself, as opposed to sending it…

Q: increase

A: In finance, the agency problem refers to a conflict of interest between the management of the…

Q: Why should the FIFO method be called a modified or department FIFO method?

A: First-in-First-Out (FIFO):In this method, items purchased initially are sold first. So, the value of…

Q: Define agency problems,

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

Q: IS a outsource?

A: Outsourcing is the process of hiring a third party to perform the company's services that are…

Q: What are the primary reasons for separating operational tasks?

A: Operational Tasks: Operational tasks refer to those tasks that are performed on a regular basis in…

Q: Define agency conflict

A: Agency conflict denotes to the conflicts that arise between the agent and Principal. In the finance…

Q: When does an agency problem happen?

A: Agency problem is the probelm of difference in opinion of management and the shareholders.

Q: What’s the AMT, and what is its purpose?

A: The main purpose of AMT is to set a limitation on the tax payers who may be making use of the excess…

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

Q: Explain what is meant by the term “system”. How do subsystems, systems and systems of systems…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: What are roll-forward procedures? Provide some examples

A: Roll-Forward Procedure: Auditors perform procedure to draw out the conclusion from an interim date…

Q: What are circumstance-imposed scope limitation and client-imposed scope limitation?

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: What is management by exception?

A: Management by Exception: Management by exception is one of the management styles where the…

Q: Describe some limitations of internal conrol systems. Why do limititations on internal control…

A: Please find the answer to the above questions below:

Q: What is meant by the term management by exception?

A: Business Management:   Business management refers to the skills associated with running a company…

Q: What is an LBO?

A: Leveraged buyout (LBO): It is another firm's takeover, employing a huge sum of borrowed capital to…

Q: What is meant by the term decentralization?

A: Decision-making process:Decision making can be defined as the process of making choices through the…

Q: What are the types of external user?

A: Entity needs to prepare a financial statement for the use of internal and external decisions making.…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Explain Handling Unequal Service Lives?

A: The two projects compared has unequal project lives. Such projects are handled by two…

Q: Define the term Force account?

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: What are the components of the Control Environment?

A: Control environment refers to the set of policies, processes, standards, and actions of top-level…

Q: Define agency cost or problem

A: Agency problem is that problem which is a conflict of interest in a relationship where one side…

Q: What is an agency problem?

A: The agency drawback may be a conflict of interest that happens once agents do not absolutely…

Q: Why is the content of a proxy statement considered to be so important?

A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…

Q: What are some limitations of internal control?

A: The below-mentioned points indicate that every system has its frailties and despite such…

Q: What are the strengths and weaknesses of infrastructure as an asset class?

A: Infrastructure as an asset is an investment in services, installations, and facilities. There are…

Q: What is a run-to-run control?

A: During computer processing, processing controls keep an eye on the quality of accounting results.…

Q: What are some limitations of internal controls?

A: