Explain Implied and Express Authorizations

question 79

Essay

Explain implied and express authorizations.

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Definitions:

Weighted Average

This is a calculation method that takes into account the varying degrees of importance of the numbers in a data set, giving different weights to some of the data points.

Moving Average

A calculation used to analyze data points by creating a series of averages of different subsets of the full data set.

Physical Count

The process of counting and verifying actual inventory on hand to ensure accuracy in records and reports.

Inventory Reporting

The process of accounting for inventory levels, costs, and valuation in financial statements.