On a Job Bid Sheet,four Items Are Added Together to Arrive

question 38

Essay

On a job bid sheet,four items are added together to arrive at a bid price.List each of these items and explain why each is necessary to arrive at the bid price.

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Definitions:

Internal Control Systems

Methods and systems adopted by an organization to maintain the accuracy of its financial and accounting records, ensure responsibility, and deter deceit.

Efficient Operations

Activities optimized to use the least amount of resources to achieve the desired level of output.

Protecting Assets

Implementing security measures to safeguard a company’s tangible and intangible assets from loss, theft, or damage.

Reliable Accounting

Accounting practices that are consistently accurate and trustworthy, providing a true and fair view of an organization's financial situation.