Lorinzer Denning-ACC410-Wk1

Lorinzer Denning-ACC410-Wk1 - ACC410 Chapter 1: Wk1 Q1-1 a....

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ACC410 Chapter 1: Wk1 Q1-1 a. G&NP organization and profit –seeking organizations are similar by: a. They are integral parts of the same economic system and use financial, capital, and human resources to accomplish their purposes. b. Both must acquire and convert scarce resources into their respective goods or services. c. Both must have viable information systems, including excellent accounting systems to assure that managers, governing bodies, and others receive relevant and timely information for planning, directing, controlling, and evaluating the sources, uses, and balances of their scarce resources. d. Cost analysis and other control and evaluation techniques are essential to ensure that resources are utilized economically, effectively and efficiently. e. In some cases, both produce similar products. For example, both governments and private enterprises may own and operate transportation systems, sanitation services, and electric utilities. b.
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This note was uploaded on 07/13/2008 for the course ACCT 403/410 taught by Professor N/a during the Spring '08 term at Strayer.

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Lorinzer Denning-ACC410-Wk1 - ACC410 Chapter 1: Wk1 Q1-1 a....

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