Accounting 2 Week 2 - Answer Marks will be awarded with logical argumentation and appropriate presentation of the answers. Answer to question 1 1 Definition of liability: A present obligation arising from a past event, the settlement of which is expected to result in an outflow of resources embodying benefits (i.e. usually a cash payment) There are two types of event creating obligation a) Legal – arises from the conclusion of legal contract, legislation or other operation of law. Example: repair
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Managing stock effectively is important for any business, because without enough stock, production and sales will grind to a halt. Stock control involves careful planning to ensure that the business has sufficient stock of the right quantity available at the right time. Internal control is the process designed to ensure reliable financial reporting, effective and efficient operations, and compliance with applicable laws and regulations. The internal control system provides for safeguarding of assets
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for discrimination in hiring and employment. After researching each of the 3 situations that you have brought to my attention, the following information contains the facts of the rule of the law and how it applies to each scenario, along with my own conclusions as to whether or not we have violated those laws at Company X, maintaining each employee or potential employee’s privacy by using anonymous names to describe them. In regards to Employee A, I have looked at the policies and procedures surrounding
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LEGAL ASPECTS OF BUSINESS (Tutor’s Guide) April 2014 Tutorial on Topics 1 and 2 – Week of 12 May 2014 (Self-Directed Learning) Total 35 marks • Type your answers in Arial Font 12 and print it back to back; • Write your name and tutorial group at the top of your answer sheet; • Put the hard copy of your answer sheet in the correct tutorial box kept inside Room BS26-6-10; and • You can submit your work anytime before 9:00am on 15 May 2014 (Thursday). 1. Describe
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CHAPTER 1 THE PROBLEM AND IT’S BACKGROUND Introduction The government might have realized that necessary steps must be taken in order to improve the education system in the country, leading them to make and consider some changes to keep up with the other countries. First, there was that bold move of implementing the K to 12 program where basic education will last for 12 years instead of the traditional 10 years. And maybe also because of climate change, just recently, there were reports about
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12/20/2015 Impact Of Employment Law Employment Relationships Law Employment Essay Impact Of Employment Law Employment Relationships Law Employment Essay Done: Mohammed AlKoohaji Section: An introduction: Employment is defined as a give and take relation between employer and employee, which result in the formation of an agreement resulting in the payment of a definite amount at the completion of the term of agreement, agreed by both the parties. Employment relation is thus affected
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NAME OF CLUB HERE) Motorcycle Club CHARTER and BY-LAWS Format ARTICLE I Name and Authority The name of this organization shall be the (Unit) Motorcycle Club. They shall have the authority to operate aboard (Camp or Air Station) and surrounding areas only with the consent of the Commanding Officer. Operation depends on compliance with the requirements of applicable Marine Corps Orders and policies, state laws, and this charter and associated by-laws. ARTICLE II Purpose, Goals, and Objectives
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1. Please explain the crucial difference between a contractual relationship and an at-will relationship. The crucial difference between a contractual relationship and an at- will is the time frame of the relationship. In a contractual relationship, one party enters into a contract with another. For example in terms of an employment relationship, an employer would extend an offer the employee and the employee would accept the offer and a contractual relationship would exist. In an employment relationship
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2013) In this case, the former employee is stating our company used his religious beliefs or practices as a basis to remove him from our work force. This was done (as stated by the employee) by the change his work schedule. By working a rotating 4 day on/4 day off schedule, our company would require him to work on his weekly religious holy day. Although given the rotational nature of the work schedule, not every weekly religious holy day would be required for work. Because the former employee would
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Assignment #2 – Family Related Issues Kenya Williams Dr. Mark Davis LEG 500 – Law, Ethics, and Corporate Governance July 31, 2011 Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. It does not matter if a parent had anything to do with a biological child in order for the child to take care of his or her parent and take advantage of FMLA because
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