The Red Cross Is a Not-For-Profit Organisation That Uses Volunteer

question 68

Multiple Choice

The Red Cross is a not-for-profit organisation that uses volunteer workers the same way a for-profit business uses paid employees.To encourage volunteers to continue to give their time, the Red Cross thanks volunteers with public recognition.This would be an example of

• A) scientific management.
• B) piece-rate scaling.
• C) Theory X.
• D) positive reinforcement.
• E) an ineffective reward system.

Analyze the impact of inventory costing method choices on financial statements.

Understand the significance of inventory control measures and their start point.

Grasp the uses and implications of subsidiary inventory ledgers and physical inventories.

Recognize the concepts of direct disposal costs, days' sales in inventory, and the importance of inventory valuation disclosure.

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Definitions:

Consignment Activity

Refers to the process where goods are placed in the care of another, but the ownership remains with the supplier until the goods are sold.

Trespass to Chattels

A tort in which one person unlawfully interferes with another person's lawful right of possession of personal property.

Conversion

In legal terms, conversion refers to the unauthorized act of possessing or using someone else's property as if it were one's own.

Sale on Approval

A transaction in which goods are delivered to a buyer for examination before the sale is finalized, allowing for return if not satisfied.