An Example of a Company's Standard Operating Procedure Is

question 87

Multiple Choice

An example of a company's standard operating procedure is

• A)a general recommendation that all employees leave their work machines in good order.
• B)a compulsory practice of employees cleaning their work areas at the end of each day.
• C)an informal code of conduct prescribing that employees help each other if time permits.
• D)a suggestion by the technical department to save all work-related files on the company FTP site.
• E)a recommendation by the human resources department that employees wear formal clothes during the week.

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Definitions:

Supplies Expense

Supplies expense refers to the cost associated with items consumed or used up in the operation of a business, which are not directly part of the manufactured product.

Income Statement

A financial document that summarizes a company's revenues, expenses, and profits or losses over a specific period.

Prepaid Expense

Expenses paid in advance for goods or services to be received in the future, recorded as an asset on the balance sheet until they are incurred.

Prepaid Insurance

The portion of insurance premiums that have been paid in advance and is recorded as an asset until utilized.