Please select ACCOUNTING for this topic

1. Please look at your company/employment/business and identify one area that does not produce any direct income. If management stated that expenses must be reduced by 15%, how would that be quantified using one of the concepts discussed in Chapter 5? Areas to choose from: personnel; receptionist; clerical; shipping and handling; accounting; senior management administrative?

2. If a company has inventory for the construction of the products being sold, how and which of the time value of money concepts should be applied to better quantify inventory cost and indicate whether a product pricing adjustment should be made?

3. If a company calculates its probable accounts receivable annual default based upon a historical losspercentage of 15%, what is the true cost of the money lost? How could that by mitigated?