the process by which managers monitor efficiency and effectiveness by monitoring performance, comparing it with goals, and taking corrective action is called ______.
Answers
The process by which managers monitor efficiency and effectiveness by monitoring performance, comparing it with goals, and taking corrective action is called performance management.
Performance management is a systematic approach that helps organizations ensure that employees are working towards achieving the desired outcomes and goals of the organization.
In this process, managers regularly monitor the performance of individuals, teams, and the organization as a whole. They compare the actual performance with the established goals and targets to assess the level of achievement.
This involves gathering data, analyzing it, and providing feedback to employees. Performance management also involves taking corrective action when necessary.
If performance is below expectations, managers may identify the root causes, provide additional training or resources, or implement performance improvement plans.
Conversely, if performance exceeds expectations, managers may recognize and reward high performers to encourage continued success.
Overall, performance management is a crucial process that allows managers to ensure efficiency and effectiveness within the organization by continuously monitoring, evaluating, and taking appropriate actions to align performance with goals.
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Related Questions
Amounts that are owed to a business are known as: Multiple Choice O accounts receivable. O accounts payable O capital. O expenses
Answers
Amounts that are owed to a business are known as Account payables. Option (b) is correct.
What is Business?Business is a professional activity whose main function is to generate profit by buying and selling goods and services.
Accounts payable are amounts due to creditors for goods or services received that have not been paid yet.
Business liabilities are the amounts owed by a business at any one particular time. They're expressed as "payables" for accounting purposes. Unless you're running a complete cash business. paying and collecting only in cash, your business probably has liabilities.
Therefore, Option (b) is correct.
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select all that apply for investors, credit rating agencies provide independent, easy-to-use measurements of relative credit risk. the most well-known credit rating agencies are . (check all that apply.) multiple select question. moody's securities and exchanges standard
Answers
The options that apply are Moody's, Standard & Poor's.
Credit rating agencies provide independent assessments of the creditworthiness of organizations, including companies and governments, by assigning credit ratings that reflect their ability to meet financial obligations. Moody's and Standard & Poor's are two of the most well-known credit rating agencies, along with Fitch Ratings. These agencies use similar rating scales to provide easy-to-understand measurements of relative credit risk, which can be helpful for investors in making informed decisions about their investments.
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In the presence of purchasing-power parity, if one dollar exchanges for 2 British pounds and if a VCR costs $400 in the United States, then in Great Britain the VCR should cost: . 200 pounds .600 pounds .400 pounds .800 pounds
Answers
In the presence of purchasing-power parity, if one dollar exchanges for 2 British pounds and if a VCR costs $400 in the United States, then in Great Britain the VCR should cost "400 pounds".
According to the concept of purchasing-power parity (PPP), exchange rates between two currencies should adjust to equalize the prices of a basket of goods and services across countries. In this scenario, if one dollar is exchanged for two British pounds, then the price of a VCR in Great Britain can be calculated by multiplying the U.S. price of $400 by the exchange rate of 2 pounds per dollar. This gives a price of 800 pounds, which is twice the correct price. However, if we adjust for PPP, the price of the VCR in Great Britain should be the same as in the United States, i.e., $400. To convert $400 into pounds, we multiply by the exchange rate of 2 pounds per dollar, which gives a price of 400 pounds. Therefore, the correct answer is 400 pounds.
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Ferguson Corporation's budgeted sales for the upcoming quarter are $900,000. Its supporting budgets and schedules show a beginning finished goods inventory of $60,000, budgeted cost of goods manufactured of $480,000, and a projected ending finished goods inventory of $40,000. Its selling and administrative budget projects expenses of $250,000, its budgeted interest expense is $10,000, and its tax rate averages 40%. 1. The company's budgeted gross profit for the upcoming quarter is $ . 2. The company's budgeted income before taxes for the upcoming quarter is $ . 3. The company's budgeted income taxes for the upcoming quarter are $ . 4. The company's budgeted net income for the upcoming quarter is $ .
Answers
Answer:
1. $400,000
2. $140,000
3. $56,000
4. $84,000
Explanation:
1. Budgeted gross profit = Budgeted sales - Budgeted COG sold
where, Budgeted COG sold = $480,000 + $60,000 - $40,000 = $500,000
By putting the value, we get
Budgeted gross profit = $900,000 - $500,000
= $400,000
2. Budgeted income before taxes = Budgeted gross profit - selling and administrative expenses - interest expense
= $400,000 - $250,000 - $10,000
= $140,000
3. Budgeted income tax = Budgeted income before taxes × tax rate
= $140,000 × 40%
= $56,000
4. Budgeted net income = Budgeted income before taxes - Budgeted income tax
= $140,000 - $56,000
= $84,000
If nominal wages cannot be cut, then the only way to reduce real wages is by: adjustments via inflation. unions. legislation. productivity increases
Answers
If nominal wages cannot be cut, then the only way to reduce real wages is by adjustments via inflation, unions, legislation, or productivity increases.
Finally, productivity increases can also reduce real wages. Productivity refers to the amount of output that workers produce per unit of input, such as per hour or per machine. When productivity increases, employers can produce more goods or services with the same amount of labor. This can lead to higher profits for employers, but it can also lead to lower wages for workers if employers do not pass on the productivity gains in the form of higher wages.
In conclusion, if nominal wages cannot be cut, then the only way to reduce real wages is through adjustments via inflation, unions, legislation, or productivity increases. Each of these methods has its own advantages and disadvantages, and employers and policymakers must weigh them carefully when making decisions about labor costs and compensation.
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a company reported a gross profit percentage of 20% with net sales of $347,800. What is the amount of cost of goods sold
Answers
Based on the information given the amount of the cost of goods sold is:$278,240.
Cost of goods soldUsing this formula
Cost of goods sold=(1-Gross profit percentage)×Net sales
Let plug in the formula
Cost of goods =(1-.20)×$347,800
Cost of goods sold=.80×$347,800
Cost of goods sold=$278,240
Inconclusion the amount of the cost of goods sold is:$278,240.
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Which is a better deal on a $200 item: 33% off original price or 20% off and additional 15% off at the register?
33% off original price
20% off and additional 15% off at the register
Answers
Answer:
Finding the original price given the sale price and percent discount
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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What is the straight time pay for each of the following for a 40 hour week
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Which statement would be MOST important to include in a summary of the section "Karl Marx"? Marx theorized that capitalists would try to get more work from people for less pay. Marxism is more durable as a critique of capitalism than as a system for governing. Marx's idea about communism influenced the Russian Revolution in 1917. Marx thought that machines would make life dull and repetitive.
Answers
The most important claim about Karl Marx would be the theorizing that capitalists would try to get more work from people for less pay.
Who was Karl Marx?He was a German philosopher who developed the foundations of communism, a system that criticized capitalism and its doctrines. His most prominent theories are about the transition to communism, the class struggle, the Marxist theory of ideology and surplus value.
Therefore, the correct option for the question refers to surplus value, which was defined for Karl Marx as the difference between the value of the work produced by employees and their salary paid. For him, the surplus value is the work produced and not paid, being a condition of exploration of the capitalist system.
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in crafting a strategy, management is in effect saying
Answers
In crafting a strategy, management is in effect saying because the strategy chosen is always the best one among the potential strategies shortlisted for the company. The correct OPTION D.
The chosen strategy is always the most advantageous for the company among those that were considered but not ultimately picked. A SWOT analysis is the initial step in developing your competitive strategy. Strengths, Weaknesses, Opportunities, and Threats are the components of the SWOT analysis.
You must determine the internal and external aspects that affect your business as well as the strengths and weaknesses of your enterprise. Future trends and opportunities can be found using a plan. It can analyse more general market changes such those brought on by political, social, or technological advancements as well as consumer shifts and design strategies to help your company adapt to these changes in the future.
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The question is incomplete complete question is given below
A. among all the many different approaches and ways of competing we could have chosen.
B. we have decided to employ this particular combination of competitive and operating approaches in moving the company in the intended direction.
C. Strengthening its market position and competitiveness and meeting or beating our performance objectives.
D. Because the strategy chosen is always the best one among the potential strategies shortlisted for the company.
27. Many organizations do not have a formal trouble reporting system. Why do you think this is the case?
Answers
Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.
Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.
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Warranty service, processing of complaints, and costs of litigation are examples of Multiple Choice appraisal costs. internal failure costs. external failure costs. replacement costs. prevention costs.
Answers
Examples of internal failure costs include warranty service and complaint handling. As a result, choice b is accurate.
What do you mean by internal failure cost?
Internal failure costs are expenses related to flaws discovered prior to the client receiving the good or service. External failure costs are expenses related to flaws discovered after the client has purchased the good or service.
Internal failure costs are quality expenses related to product flaws found before a product leaves the facility.
Hence, warranty services all are examples of the internal failure cost.
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Segregation of Duties
Arcadia Plastics follows the philosophy of transferring employees from job to job within the company. Management believes that job rotation deters employees from feeling that they are stagnating in their jobs and promotes a better understanding of the company. A computer services employee typically works for six months as a data librarian, one year as a systems developer, six months as a database administrator, and one year in systems maintenance. At that point, he or she is assigned to a permanent position.
Required:
Discuss the importance of separation of duties within the information systems department. How can Arcadia Plastics have both job rotation and well-separated duties?
Answers
Maintain separation of duties while implementing job rotation strategies.
Importance of separation of duties?The is a separation of duties crucial principle within the information systems department of any organization, including Arcadia Plastics. It is designed to prevent conflicts of interest, fraud, and errors by ensuring that no single individual has complete control or access over a critical process or system. The principle of separation of duties helps to establish checks and balances, increase accountability, and mitigate risks associated with internal control failures.
In the context of Arcadia Plastics' philosophy of job rotation, it is important to find a balance between job rotation and maintaining well-separated duties. While job rotation can be beneficial for employee engagement and skill development, it must be implemented in a way that does not compromise internal control and security measures. Here are some strategies that Arcadia Plastics can adopt to achieve both objectives:
Identify critical duties: Analyze the information systems department and identify key functions or processes that require strict separation of duties. These may include tasks related to data access, system administration, development, maintenance, and security.Design job rotation plans: Develop job rotation plans that consider the identified critical duties. Ensure that employees are rotated across different roles and responsibilities without violating the principle of separation of duties. This can be achieved by assigning individuals to roles that have complementary functions but do not create conflicts of interest or single points of failure.Implement appropriate access controls: Establish access controls and permissions within the information systems department to limit employees' access to sensitive data and critical systems. This helps ensure that individuals only have access to the resources necessary for their specific role and responsibilities.Implement oversight and review processes: Implement regular audits, reviews, and monitoring processes to detect any irregularities or potential control failures. This can involve periodic checks on employees' activities, reviewing logs and system activity reports, and conducting independent assessments of internal controls.Provide training and awareness: Educate employees about the importance of separation of duties and the risks associated with control failures. Provide training on security practices, ethical guidelines, and organizational policies to reinforce the understanding of their roles and responsibilities.By combining these strategies, Arcadia Plastics can strike a balance between job rotation and maintaining well-separated duties within the information systems department. This approach ensures that employees gain diverse experiences while minimizing the risk of fraud, errors, and unauthorized access to critical resources.
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How important are signs.symbols and designs in relation to carpentry?if you do not have access to internal.you may answer based on your opinion
Answers
Answer:
Symbols—such as gestures, signs, objects, signals, and words—help people understand that world. They provide clues to understanding experiences by conveying recognizable meanings that are shared by societies.
Explanation:
I HOPE IT HELPS PO...☺️☺️☺️1) State with reasons, the method you would adopt to price materials into production.
i.)in a period of rapidly increasing prices of the material,
ii). in a period of rapidly reducing prices of the material.
Answers
The method you would adopt to price materials into production:
i) In a period of rapidly increasing prices of the material is price penetration
ii). in a period of rapidly reducing prices of the material is price skimming
What is pricing methods?Pricing Methods are the ways in which the price of goods and services are determined. It is computed from all factors such as the resources and materials used for production.
In a period of rapidly increasing prices of the material you maintain a low price because of competitive market and then raise the price later. It called penetration price
In a period of rapidly reducing prices of the material use price skimming where you maintain your high price of selling and lower it as the market evolves.
Therefore, different pricing strategy works for different period and market season.
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If a sales promotion increases an organization's profits, it means it has fixed any problems with the marketing plan.
Answers
The correct answer to this open question is the following.
Although there are no options attached or further context, we can say the following.
If a sales promotion increases an organization's profits, it means it has fixed any problems with the marketing plan.
Not really, it only means that the sales promotion was effective up to the degree of the goals established in the plan. But this doesn't mean that it has solved all the problems with a marketing plan
The marketing plan is a more large and complete document that includes many different strategies, tactics, and action programs. The sales promotion is only one aspect or program of the marketing mix included in the plan.
Which of the following might vary in on online purchase depending on where the purchaser lives?
A. The quality of the object
B. The sales tax charged
C. The appearance of the item
D. The retail price of the item
Answers
Answer:
The sales tax
Explanation:
Fran Jefferson began her job as the supervisor of the training department of Metro Bank and Trust Company almost four years ago, she was generally pleased with the four trainers and one secretary in her unit. Indeed, Fran took pride in her ability to create a high morale and high-performance unit. This was particularly pleasing to Fran because they were constantly busy and barely able to keep up with the volume of training expected from them. Then early on Wednesday morning Fran’s secretary, Judy Martin knocked on Fran’s door and asked to see her. Fran Liked Judy and considered the secretary to be one of her "stars." Indeed, in an effort to develop Judy’s talents and abilities, Fran had gone out of her way to give Judy special assignments, including her in all the major planning activities of the department and entrusting her with the administration of certain departmental programs, such as tuition assistance and evaluation follow-through. By now Judy functioned more as an administrative aide than as a secretary. It was clear that Judy was upset about something as she seated herself in the chair next to Fran’s desk. Slowly, Judy placed a job-posting application form in front of Fran. She would not look her supervisor in the eyes. Fran was surprised, to say the least. As far as Fran knew, Judy liked both her hob and working in the Training Department. In turn, everyone else in the department liked and respected Judy. Fran looked over the form and said casually, "so you want to post for the executive secretary job in the Branch Management Division." She paused. Could I ask you for some additional information, Judy? I‘m kind of surprised." Judy looked at her clasped hands, thinking. Fran waited. Finally, Judy looked up and said: "I noticed in last week’s job posting that the executive secretary position is graded as a 14. Now that’s two grades higher than my job!" She caught her breath. "You know my friend Mary Johnson works over there. She told me that half the time the secretary sits around doing nothing." Judy continued, Gathering some anger in her look and resentment in her voice. "Look, Fran, you know how hard I work, how hard we all work, around here. I mean. I’m always busy. I don’t see why I should work in a job graded at a 12 and work twice as hard and yet not be paid the same as that secretary. The job requirements for the job are just a little higher than mine and the merit raise you gave me last month hardly helped at all." Fran listened; then she replied: "It sounds to me, Judy, that you’re feeling angry because you think you should be paid more for the work you do and that you want to switch jobs rather than put up with things as they are. Am I right?" Judy nodded her head in agreement. Fran knew, though, that the Metro hob evaluation system was up to date and that the executive secretary position to which Judy referred did require additional background experience, skills, and responsibilities beyond what was needed in Judy’s current hob. Because her secretary was such a good employee and nice person, Fran was quite concerned. She felt strongly that moving to the executive secretary job would not be what Judy really wanted, and she hated to lose Judy, especially her decision was based on faulty reasoning and the move would not be good for her.
Help me to answer these 3 questions, please.
1. What is/ are the problem/s presented in the case?
2. What HR responsibility/ responsibilities of a line manager does Fran need to focus on to solve the problem/s in this case?
3. What HR activities/ programs can you recommend to be implemented in the organization in order to prevent these problems from happening again?
Answers
1. The problem in the case Judy, feels that she is not being paid fairly for the amount of work that she does.
2. Fran needs to focus on the HR responsibility of compensation management in order to solve the problem.
3. The HR activities include pay fairly, create opportunities, create a transparency etc.
The problem presented in the case is that Judy, Fran's secretary, feels that she is not being paid fairly for the amount of work that she does and wants to switch jobs to a higher paying position that she believes requires less work. Additionally, Fran is concerned about losing Judy as an employee and wants to prevent her from making a decision based on faulty reasoning.
She needs to ensure that Judy understands how the job evaluation system works and why the executive secretary position is graded higher and requires additional background experience, skills, and responsibilities. Fran also needs to focus on employee development and career planning in order to help Judy find a position that would be a good fit for her.
Some HR activities and programs that can be implemented in the organization to prevent these problems from happening again include conducting regular compensation reviews to ensure that employees are being paid fairly, providing training and development opportunities and advance their careers, and creating a transparent job evaluation system.
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8. Which of the following is NOT a job of the Federal Reserve?
1.Keeping banks safe
2.Making payment systems secure
3.Printing currency
4.Growing the economy
Answers
Answer:
I think 3
Explanation:
These activities on the statement of cash flows represent the cash flows that arise out of notes payable. a.) Investing Activities
b.) Financing Activities
c.) Operating Activities
d.) Earnings Activities
Answers
These activities on the statement of cash flows represent the cash flows that arise out of notes payable c.) Operating Activities.
Operating activities are really the things a business undertakes to consistently advertise its goods and services. Non-operating activities are such occurrences that may have an impact on sales, costs, or cash flow but are unrelated to the regular, main activity of the company. Operational actions consist of: deciding on a plan.
The tasks a company performs that are directly relevant to offering its products and/or services here to market are referred to as operating activities. A product or service is manufactured, distributed, marketed, and sold. Those are the company's primary commercial activities.
The first section of a company's financial statement is the cash flow by operating operations portion. It is used to describe how a business obtains money from ongoing, routine commercial operations, such as sales and manufacturing.
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how did railroads influence modern business practices? responses by issuing stocks and bonds by issuing stocks and bonds by creating reasonable scheduling expectations by creating reasonable scheduling expectations by forming corporate boards by forming corporate boards by resisting standardization by resisting standardization
Answers
The railroads have an impact on contemporary business methods corporate boards are created.
In the United States, an extensive network of railroads was built starting in the nineteenth century, allowing for the movement of products and people over significant distances, the settlement of sizable areas of the country, the development of towns and cities, and the unification of a country. Early railroads were a long cry from the vast train network that was constructed in the nineteenth century and is still in use today. In the early days of railroad construction in the United States, horses transported cargo to adjacent waterways along short, wooden railways constructed by quarries and mines.
In Quincy, Massachusetts, and Mauch Chunk, Pennsylvania, quarry and mine owners built the first full-size railroads in 1827. In 1829, the first locomotive to be used on a railroad was purchased from England.
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. A quadratic polynomial whose one zero is 6 and the sum of the zeroes is 0, is x*2-6
True
False
pls tell fast
Answers
Answer:
False
Explanation:
From the question, we can see that a quadratic polynomial is made up of two elements or variables called zeros in this question
From the question, we are told that one variable (zero) = 6
The second variable (zero) = unknown , therefore we can represent the second variable as Y
We are told that the sum of the variables = 0
This means:
6 + Y = 0
Therefore, Y = 0 - 6
Y = -6.
The second variable ( zero) = - 6
Since it is a quadratic polynomial,
The roots of the polynomials are the variables 6 and -6
Hence, we have:
(x + 6) (x - 6) = 0
Expanding the brackets
x² - 6x + 6x - 36 = 0
= x² - 36 = 0
Therefore, a quadratic polynomial whose one zero is 6 and sum of the zero is 0 is x² - 36 = 0
This means the statement made in the question above "A quadratic polynomial whose one zero is 6 and sum of the zero is 0 is x²-6" is false
Each pail of plaster covers 97 square feet of ceiling. How many pails of plaster would you need to buy to cover the ceiling of a room with walls 14 feet long?
Answers
Answer:
2.02
Explanation:
Each pail of plaster covers 97 Square feet of ceiling
The ceiling of the room is 14 ft long
= 14×14
= 196
Therefore the pail of plaster that will be needed to cover the rooms can be calculated as follows
= 196/97
= 2.02
Please help worth bonus points!
Answers
Answer:
the 4th and 5th one is for france
Explanation:
this is done in france France, it is called french silver service, it's a method of food service at the table, it's known as à l'anglaise (English service)
4=the staff utilizes platters to serve cooked food
5=the last one
1= america, the first one.
2=Russia
3=russia
if I got anything mixed up, pls inform me.
Who carries the animal from the farm to the market or packer?
A. Producer
B. Proccessor
C. Transporter
D. Consumer
Answers
Answer:
was it a passage u had to read?
Explanation:
Answer:
Transporter
Explanation:
You are transferring the animal to the market from the farm.
How do credit card companies use a person's credit report?
A.) To determine if that person should be given a loan or credit card
B.) To calculate how much interest the person is owed on their account
C.) To help them figure out ways to pay off their outstanding debt
D.) To figure out if that person has been using a budget
Answers
Answer:
The answer is the letter A
Answer:
A
Explanation:
Sunland Company owns equipment that cost $73,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $13,000 and an estimated useful life of 5 years. Prepare Sunland Company's journal entries to record the sale of the equipment in these four independent situations. (a) Sold for $39,000 on January 1, 2022. (b) Sold for $39,000 on May 1, 2022. (c) Sold for $22,000 on January 1, 2022. (d) Sold for $22,000 on October 1, 2022.
Answers
Answer and Explanation:
The journal entries are shown below;
(a)
Cash $39,000
Accumulated Depreciation $36,000 [($73,000 - $13,000) × 3 ÷ 5]
To Equipment $73,000
To Gain on Sale of Equipment $2,000
(being the sale of equipment is recorded)
(b)
Depreciation $4,000 [($73,000 - $13,000) ÷ 5 × 4 ÷12]
To Accumulated Depreciation $4,000
(being depreciation expense is recorded)
Cash $39,000
Accumulated Depreciation $40,000 ($36,000 + $4,000)
To Equipment $73,000
To Gain on Sale of Equipment $6,000
(being the sale of equipment is recorded)
(c)
Cash $22,000
Accumulated Depreciation $36,000
Loss on Sale of Equipment $15,000
To Equipment $73,000
(being the sale of equipment is recorded)
(d)
Depreciation $9,000 [($73,000 - $13,000) ÷ 5 × 9 ÷ 12]
To Accumulated Depreciation $9,000
(Being depreciation expense is recorded)
Cash $22,000
Accumulated Depreciation $45,000 ($36,000 + $9,000)
Loss on Sale of Equipment $6,000
To Equipment $73,000
(being sale of equipment is recorded)
Imagine that you are serving as the general manager of a hotel. What three aspects do you think would be most important to the success of your hotel? How would you improve these facets of your hotel?
Answers
Answer:
1. Create and give innovative experience.
2. Brand and reputation operation
3. Improvement in workers general welfare
Explanation:
As a manager in an hotel, I would Improve the facets of the hotel by
1. Create and give innovative experience. As a manager, I would ensure the hotel create and delivers top notch service considering there are competition in the hospitality industry.
2. Brand and reputation operation. When customers receives a world class experience, reputation is being created here. I would then sustain this reputation by making it a brand upon which the hotel will be identified with subsequently.
3. Improvement in workers general welfare. This is very critical to the success of the hotel. Once workers are well paid , it would spur them to work and align with the vision I have for the hotel.
Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
Answers
The general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
Journal entryAssuming Gloria Catering provided the amount of $1,000 of catering services and billed its client for the amount owed. The appropriate journal entry to record this transaction is :
Gloria Catering Journal entry
Debit Accounts receivable $1000
Credit Catering revenue $1000
(To record account receivable)
Inconclusion the general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
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