The Following Information Is Provided for a Company That Manufactures

question 43

Essay

The following information is provided for a company that manufactures bicycles.The factory foreman determines when orders for materials are necessary.The orders are sent to the purchasing department that places orders with the vendors recommended by the factory foreman.When the materials are received,they are immediately delivered to a central storeroom.When invoices are received for the items purchased,they are sent to the accounting department for payment.The accounting department compares the invoices with purchase orders.If the two documents are in agreement,the invoice is approved for payment.The accounting department prepares cheques that are signed by the company treasurer.
Recommend three or four improvements in the company's procedures for purchasing and paying for purchases of materials that will provide better internal control.

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Definitions:

Social Networking

The use of dedicated websites and applications to interact with other users, or to find people with similar interests to oneself.

STEAM Family Events

Activities or gatherings designed to engage families in Science, Technology, Engineering, Art, and Mathematics, aiming to foster a love of learning and exploration in these fields.

21st-Century Learners

Individuals who are gaining education in the 21st century, characterized by a focus on digital literacy, critical thinking, and collaborative skills.

Critical Thinking Skills

The ability to actively and skillfully conceptualize, apply, analyze, synthesize, and evaluate information to reach a conclusion or judgement.