4_takehome_chapters 1 and 2_fall10_soln

4_takehome_chapters 1 and 2_fall10_soln - Acc 200P Name_KEY...

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Acc 200P Name: ______ KEY ____________________________ Chapters 1 and 2 Take-home Quiz Problem I: (9 pts) Managers are involved in three primary activities. Describe and given one example of each activity. Type of Activity: Description: Example: 1. Planning Activities Involve the development of both short-term and long-term objectives and goals, and the identification of the resources needed to achieve them. - short term cash needs - how much raw materials to purchase - planning the labor hrs/employees needed - establishing sales quotas - determining short-term and/or long-term performance goals and objectives. - how can the company distinguish themselves from their competitors (This list is not necessarily comprehensive – see page 9 for other examples.) 2. Operating Activities Involve the activities that management must do to run the business on a day-to-day basis. - should a special order be accepted - how much raw material should be ordered from a supplier - should a product be processed further - what price to charge (This list is not necessarily comprehensive – see page 9 for other examples.) 3. Controlling Activities Involve the motivation and monitoring of employees and other resources used in the business. -comparing budgeted to actual
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This note was uploaded on 12/13/2010 for the course ACC 200 taught by Professor Buckless during the Fall '08 term at N.C. State.

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4_takehome_chapters 1 and 2_fall10_soln - Acc 200P Name_KEY...

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