Chapter 40 Flashcards
1
Q
How to motivate employees at early stage
A
by incentives and role model of a leader
2
Q
Should there be financial skills in business early days
A
Yes
3
Q
What is cash flow statement
A
The cash flow statement may show the actual amounts next to the budgeted amounts. Business needs cash flow statement.
4
Q
What is inventory control system
A
An inventory control system allows the company to monitor key figures, such as inventory turnover and percentage of customer complaints.
5
Q
When we should convert inventory control system from FIFO to LIFO
A
When rising labor, materials, and other production costs are anticipated
6
Q
Does lease payment an expense in accounts
A
Yes
