Assume That the County of Katerah Maintains Its Books and Records

question 60

Essay

Assume that the County of Katerah maintains its books and records in a manner that facilitates preparation of the fund financial statements. The county formally integrates the budget into the accounting system and uses the encumbrance system. All appropriations lapse at year-end. At the beginning of the fiscal year, the county had the following balances in its accounts. All amounts are in thousands.
REQUIRED: Prepare the necessary entries for the current fiscal year. (a) The county made the appropriate entry to restore the prior-year purchase commitments.
(b) The county board approved a budget with revenues estimated to be $800 and expenditures of $750.
(c) The county received the items that had been ordered in the prior year at an actual cost of $135.
(d) The county ordered supplies at an estimated cost of $50 and equipment at an estimated cost of $70.
(e) The county incurred salaries and other operating expenses during the year totaling $600. The county paid these items in cash.
(f) The county received the equipment at an actual cost of $75.
(g) The county earned and collected, in cash, revenues of $810.

Recognize different strategies for gaining competitive advantage in the marketplace.

Understand the impact of technology in enhancing customer experience and operational processes.

Recognize the role of continuous improvement mechanisms such as BPI, BPM, and BPR in business process optimization.

Distinguish between the roles of various departments in fulfillment and procurement processes.

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Definitions:

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Describes a situation where there is a perceived lack of genuine or authentic qualities in a person, product, or brand.

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The technique of using compelling narratives to share the values, mission, and history of a brand, consequently building deeper connections with the audience.

Brand Purpose

The underlying mission or reason for a brand's existence beyond just making a profit, often related to making a positive impact on society or the environment.

Authenticity Deficit

The gap between how genuine or authentic a brand claims to be and how consumers actually perceive its authenticity.