Answer:
The internal control principles are:
Establishment of responsibility
Segregation of duties
Physical control devices
Documentation procedures
Independent internal verification
Human resource controls
1. The same person opens incoming mail and posts the accounts receivable subsidiary ledger. ⇒ SEGREGATION OF DUTIES.
There should be a segregation of such duties so that the chances of fraud are reduced.
2. Three people handle cash sales from the same cash register drawer. ⇒ ESTABLISHMENT OF RESPONSIBILITY.
One person should have access to the cash register drawer so as to reduce chances of fraud where one person takes cash and no one knows who. One person having access is an establishment of responsibility for that person.
3. A clothing store is experiencing a high level of inventory shortages because people try on clothing and walk out of the store without paying for the merchandise. ⇒ PHYSICAL AND IT CONTROLS.
Physical and IT controls would prevent such events from happening because the clothes would be identified before they left the store.
4. The person who is authorized to sign checks approves purchase orders for payment. ⇒ SEGREGATION OF DUTIES.
Segregation of duties ensures that this person would not make up frivolous purchase orders and then sign the checks for them.
5. Some cash payments are not recorded because checks are not prenumbered. ⇒ DOCUMENTATION PROCEDURES.
Documentation procedures ensure that records are well kept in the company to avoid such a scenario.
6. Cash shortages are not discovered because there are no daily cash counts by supervisors. ⇒ INDEPENDENT CHECKS OF PERFORMANCE.
There should be an independent check of performance in different departments especially in relation to cash to find out why cash balances are a certain way.
7. The treasurer of the company has not taken a vacation for over 20 years. ⇒ HUMANS RESOURCE CONTROLS.
Human resource controls ensure that best practices are used in human resource to promote efficiency. This scenario will lead to the burnout of the employee which would reduce efficiency in the business.
scott is the chief human resource officer (CHRO) of MarkIt Inc.. In performing the tasks of aligning the HR activities with the needs of the business, Scott is performing the role of a(n)
Answer:
leader of the HR function
Explanation:
HRM stands for Human Resource Management. It is a department in any business organization which looks after hiring, training and managing the employees of the organization.
It also deals with the issues of the employees that they face in the organization.
In the context, Scott who is the CHRO, i.e. the chief human resource officer of the organization named Marklt Inc. performs the tasks of the management and alignment of all the HR activities that is with the need of the business. In such a way, Scott is performing the role of the leader of the HR function.
As a leader of the HR, Scott is ensuring that Marklt Inc. has the right people in the organization working to their best.
Assume that a certain business has $1,000 worth inventory, $1,000 cash in bank, and $10,000 receivable from customers in three months. Further, the business needs to pay a short-term loan worth $5,000 in less than six months. What might be the working capital requirement of this business?
A.
$5,000
B.
$6,000
C.
$7,000
D.
$8,000
E.
$12,000
Answer:
A. $5,000
Explanation:
Plato
The working capital requirement of this business is $5,000. Thus, option A is correct.
What is working capital?A financial term known as working capital (WC) measures the operating liquidity that is accessible to a company, organization, or other organization, including governmental agencies.
Working capital is seen as a component of operational capital, along with fixed assets like plant and equipment. Current assets are equal to gross working capital. Current assets less Current Liabilities equals Working Capital. An entity has a working capital deficiency, also known as a working capital deficit and negative working capital, if current assets are fewer than current liabilities. Despite having assets and profits, a business may lack liquidity if its assets cannot be quickly transformed into cash.
Therefore, we can conclude that option A is correct.
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All of the following could be included in a thank-you letter except
A. reiterating your interest in the position.
B. thanking the interviewer for choosing you.
c. thanking the interviewer for considering you.
D. highlighting what you learned in the interview.
Thanking the interviewer for choosing you would not be appropriate as the final decision may not have been made at the time the thank-you letter is sent, and it can come across as presumptuous. Therefore, thanking the interviewer for choosing you should not be included in a thank-you letter. Thus, option B is correct.
What is thank-you?A thank-you letter is a letter that you send to express your gratitude and appreciation for someone's time, help, or consideration. In the context of a job interview, a thank-you letter is usually sent to the interviewer(s) after the interview to thank them for their time and consideration and to reiterate your interest in the position.
Here are some things that you could include in a thank-you letter:
Start with a proper salutation, such as "Dear [Interviewer's Name],"Express your gratitude for the interviewer's time and consideration.Reiterate your interest in the position and highlight why you think you would be a good fit.Reflect on what you learned from the interview and how you can contribute to the company.If you forgot to mention something during the interview, you can include it in the thank-you letter.End the letter by thanking the interviewer again and expressing your enthusiasm about the possibility of working with them.Sign off with a professional closing, such as "Sincerely," or "Best regards," followed by your name.Remember to proofread your letter carefully before sending it to avoid any spelling or grammatical errors.
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When a profit-maximizing firm in a monopolistically competitive market is producing the long-run equilibrium quantity, Group of answer choices its average revenue will equal its marginal cost. its marginal revenue will exceed its marginal cost. it will be earning positive economic profits. its demand curve will be tangent to its average total cost curve.
Answer:
The correct answer is the last option: Its demand curve will be tangent to its average total cost curve.
Explanation:
To begin with, in the microeconomics theory the "monopolistically competitive" market is refered to that one whose main characteristics reside in the same as the perfect competition but with the major difference of exisiting the differentiation of the product or service in the market, so for that reason the competition is basically stimulated by the publicity and other factors that will differentiate their product against the other ones. Moreover, due to the short run equilibrium and therefore to the obtanining of big economic profits from part of every company in the market then more other companies will enter and once that happens then the profits of everybody will decrease. And that in the graphic has it major difference with the average total cost curve being tangent to the demand curve, which do not happen in the short run.
All of the following actions lead to the payment of a credit card fee EXCEPT... Using your credit card to get cash from an ATM. Using your credit card to purchase items in a foreign country. Paying your credit card bill ten days after the Due Date. Paying your credit card bill in full and on time every month.
Answer:
Paying your credit card bill in full and on time every month.
Explanation:
The other choices will most likely prompt a fee to be charged.
A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $130,000 (g) Sold services to customers, $120,000 What amount would be reported for net investing cash flows in the statement of cash flows
Answer:
$70,000
Explanation:
Calculation to determine What amount would be reported for net investing cash flows in the statement of cash flows
Using this formula
Net investing cash flows=(f) Equipment sold- (a) Purchased land
Let plug in the formula
Net investing cash flows=$130,000-$60,000
Net investing cash flows=$70,000
Therefore The amount thatwould be reported for net investing cash flows in the statement of cash flows is $70,000
Radson Inc. decides to factor its accounts receivables which are due a year later with another firm. The firm agrees to advance 85% of the accounts receivables, which average to about $450,000 per year. It would charge a fee of 1.5% on the total amount and the advance would be at the rate of 13.5% per annum. It is estimated that, due to the factoring decision, Radson would save $15,000 in collection charges. Using the facts above, compute the annual cost of factoring to the company.
Answer:
11.34%
Explanation:
Computation for the annual cost of factoring to the company
Annual factoring expenses=43,388/($450,000*85%)
Annual factoring expenses = 43,388/382,500
Annual factoring expenses = 0.1134*100
Annual factoring expenses= 11.34%
Therefore the annual cost of factoring to the company is 11.34%
Herm promises to pay Nixie to work as an assistant buyer for his Organic Foods stores. Nixie agrees and quits her job with Pic-U Grocery, but Herm does not hire her. Herm is most likely liable to Nixie under
Answer:
the job that he works at
Explanation:
he quit
Herm is most likely liable to Nixie under the doctrine of promissory estoppel.
What are Organic Foods?The manner agricultural products are cultivated and processed is referred to as "organic." While rules differ from nation to nation, in the United States, organic crops must be grown without the use of synthetic fertilizers, pesticides, herbicides, or fertilizers, as well as without the use of bioengineered genes.
Produce can be referred to as organic if it was grown on soil without any prohibited substances applied for three years prior to harvest, according to certification. The majority of synthetic fertilizers and insecticides are prohibited substances.
Produce grown organically uses fewer pesticides. In conventional agriculture, synthetic fungicides, herbicides, and insecticides are frequently utilized, and their residues stay on (and in) the food we eat.
Hence, Herm is most likely liable to Nixie under the doctrine of promissory estoppel.
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The goods and materials available for sale at the beginning of a period are_____.
beginning inventory
raw materials
cost of goods sold
ending inventory
Answer:
The answer is beginning inventory
True or false. A direct deposit is when you take your check straight to the bank when you receive it
Answer:
false
Explanation:
The sticky-price theory implies that Select one: a. an unexpected fall in the price level induces firms to reduce the quantity of goods and services they produce. b. All of the above are correct. c. the short-run aggregate-supply curve is upward-sloping. d. menu costs influence the speed of adjustment of prices.
Answer:
b. All of the above are correct.
Explanation:
Sticky prices refer to the prices that are resistant to change. It remain the same when the demand is increased or not. Neither they fluctuate when there is the change in the production cost so overall we can interpet that it remains the constant whether the other factors like demand, production cost changed or not
Therefore the option b is correct
A(n)
is a nondeposit financial institution that pools funds from its members to provide retirement income for its members.
Answer:
"Pension fund" is the appropriate solution.
Explanation:
The term "pension plan" for employers would be a recognized plan or organization which offers an amount of livelihood throughout pensions.
Sometimes staff, potential employees, or sometimes both pay toward funding or contributions. Governments around the world throughout all concentrations give retirement compensation.Thus the above is the correct answer.
Your variable annuity charges administrative fees at an annual rate of 0.12 percent of account value. Your average account value during the year is $200,000. What is the administrative fee for the year
Mojor logisitics functions are logistics information management inventory management transportation and......
Answer:
warehousing
Explanation:
These are the options for the question
advertising
warehousing
financial projections
product design
Logistics can be regarded as process involving planning, as well as controlling the efficient and cost-effective flow, implementing and
storage of raw materials, as well as in-process inventory, and related information starting at origin point up to consumption point with the aim of for conforming to requirements of customer.roles of logistics are storage
transportation/delivery,distribution processing, and some activities to deliver products on time. It should be noted that Mojor logisitics functions are logistics information management inventory management transportation and warehousing
Residual, a company that manufactures soda, offers its latest products at very low prices. Residual's strategy is based on the assumption that more customers will be willing to buy its products if they are offered at lower prices. Residual has adopted this strategy to attract a larger customer base and increase its sales volume even though it will only gain a small profit on each individual sale. In this scenario, Residual has implemented the _____ strategy.
Answer:
"Penetration pricing" is the right answer.
Explanation:
This seems to be a payment category for clients throughout the beginning design phase of the project commodity that the lender spends relatively cheap prices.This enables everything to infiltrate the competition or marketplace as well as overthrow its potential competitors, and here's the similar thing.Thus the above is the appropriate solution.
Louis is a member of the marketing team on the Superb Mattress account. Recently, he has emerged as a team leader. His supervisor, Michele, is letting Louis make the final decision as to which campaigns are presented to the client. This provides Louis with
Answer:
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A certificate of deposit that changes the rate of interest based on the prevailing market interest rate is known as a: A Market rate CD B Step-up / Step-down CD C Negotiable CD D Renewable CD
Answer:
B. Step-up/Step-down CD
Explanation:
A bank certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.
Generally, a certificate of deposit pays a higher interest rate to its holder than the regular savings account because the banks invest the money in a business.
Additionally, the bank certificate of deposit is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.
A Step-up/Step-down certificate of deposit (CD) is a type of CD that changes the rate of interest for a deposit based on the prevailing market interest rate.
The Shinn Company wants to manufacture a new mouthwash designed to fight cavities and whiten teeth. The Shinn Company looks at the previously collected data over the last three years on consumer preferences in mouthwash and looks to social media to see what customers are saying about its products. This is an example of _______.
Answer:
Secondary data
Explanation:
Secondary data means the data i.e. collected by the someone other than the data i.e collected for the first time. It includes the information that related to the censuses, government departments, etc for researching purpose
Since in the given situation, the company looks to the data i.e. already collected and according to this they are able to make the analysis
So, here it is an example of the secondary data
What are the basics of the stock market and how does one put these basics into play?
Answer:
Bru.h it's a hoaxxxx
Explanation:
A monopoly firm faces two markets where the inverse demand curves are:
Market A: P_A = 140 - 2.75Q_A.
Market B: P_B = 120 - Q_B.
The firm operates a single plant where total cost is C = 20Q + 0.25Q^2, and mammal cost is m = 20 + 0.5Q.
Required:
1. Suppose the firm sets a single price for both markets. Using the information above, the profit maximizing price is $86.18 and the profit maximizing quantity is 53.37 units. Given this information, you determine that the firm will earn a profit of $ _________.
2. Now suppose the firm is able to engage in group price discrimination. To maximize profits, the firm will produce 16.95 units for market A and charge customers in market A a price of $ 93.39 per unit. And it will produce 36.6 units for market B and change customers in market B a price of $ __________ per unit.
3. If the firm engages in your price discrimination it will earn a profit of $ ___________.
Answer:
1. The firm will earn a profit of $2,819.94.
2. The firm will charge customers in market B a price of $83.40 per unit.
3. If the firm engages in your price discrimination it will earn a profit of $2,847.50.
Explanation:
Given:
Market A: P_A = 140 - 2.75Q_A ………………….. (1)
Market B: P_B = 120 - Q_B ……………………………(2)
C = 20Q + 0.25Q^2 ……………………………………… (3)
Marginal cost = m = 20 + 0.5Q …………………… (4)
Therefore, we have:
1. Suppose the firm sets a single price for both markets. Using the information above, the profit maximizing price is $86.18 and the profit maximizing quantity is 53.37 units. Given this information, you determine that the firm will earn a profit of $ _________.
P = Profit maximizing price = $86.18
Q = Profit maximizing quantity = 53.37
R = Total revenue = P * Q = $86.18 * 53.37 = $4,599.43
Substituting Q = 53.37 into equation (3), we have:
C = (20 * 53.37) + (0.25 * 53.37^2) = $1,779.49
Profit = R – C = $4,599.43 - $1,779.49 = $2,819.94
Therefore, the firm will earn a profit of $2,819.94.
2. Now suppose the firm is able to engage in group price discrimination. To maximize profits, the firm will produce 16.95 units for market A and charge customers in market A a price of $ 93.39 per unit. And it will produce 36.6 units for market B and change customers in market B a price of $ __________ per unit.
This implies that we have:
Q_B = 36.6
Substituting Q_B = 36.6 into equation (2), we have:
P_B = 120 - 36.6 = 83.40
Therefore, the firm will charge customers in market B a price of $83.40 per unit.
3. If the firm engages in your price discrimination it will earn a profit of $ ___________.
Q_A = 16.95
P_A = 93.39
R_A = Market A Revenue = Q_A * P_A = 16.95 * 93.39 = 1,582.96
Q_B = 36.6
P_B = 83.40
R_B = Market B Revenue = Q_B * P_B = 36.6 * 83.40 = 3,052.44
R = Total revenue = R_A + R_B = 1,582.96 + 3,052.44 = 4,635.40
Q = Q_A + Q_B = 16.95 + 36.6 = 53.55
Substituting Q = 53.55 into equation (3), we have:
C = (20 * 53.55) + (0.25 * 53.55Q^2) = 1,787.90
Profit = R - C = 4,635.40 - 1,787.90 = 2,847.50
Therefore, if the firm engages in your price discrimination it will earn a profit of $2,847.50.
Why do exchange rates for currency exist
A. To be confusing to travelers.
B. Because every currency is backed by gold or silver.
C. People have a demand for other currencies.
D. It is mandated by the United Nations.
Answer:
C. People have a demand for other currencies.
Explanation:
Which is an example of E-commerce?
Answer:
A rrespuesta A espero sea correcta
The required reserve ratio is 0.2 and the Federal Reserve sells $1 million in securities. If there are no leakages and banks do not hold excess reserves, then which of the following is the change in the money supply? An increase of $1 million Answer A: An increase of $1 million A An increase of $1.2 million Answer B: An increase of $1.2 million B An increase of $5 million Answer C: An increase of $5 million C A decrease of $1.2 million Answer D: A decrease of $1.2 million D A decrease of $5 million
Answer:
The answer is a decrease of $5 million.
Explanation:
Uniontown Books began operating in 2011. The company lost money its first three years of operations, but has had an operating profit during the past two years. The company's operating income (EBIT) for its first five years was as follows: Year EBIT 2011 -$2,200,000 2012 -$2,000,000 2013 -$1,000,000 2014 $1,200,000 2015 $7,000,000 The company has no debt, and therefore, pays no interest expense. Its corporate tax rate has remained at 34% during this 5-year period. What was Uniontown's tax liability for 2015
Answer: $1,020,000
Explanation:
Uniontown's tax liability for 2015 will be calculated thus:
Firstly, we'll calculate the loss to be adjusted in 2015 which will be:
2011 = $1,000,000
2012 = $2,000,000
2013 = $1,000,000
Total = $4,000,000
The profit after the adjustment of loss will be:
= EBIT in 2015 - Adjusted loss
= $7,000,000 - $4,000,000
= $3,000,000
Since Corporate tax rate is 34%, then. The tax liability for 2015 will be:
= $3,000,000 × 34%
= $1,020,000
Therefore, Uniontown's tax liability for 2015 is $1,020,000.
Note that from the total loss of $2,200,000 in 2011, $1,000,000 is adjusted in later years as $1,200,000 is adjusted in 2014.
kike tas tite
[tex]7894561230 | | | | | | | | |?| | | | | | | | | [/tex]
Answer:
what is this even. this isnt a question
Answer:
HUH
Explanation:
You work in the economic-development department of your city. The mayor asks you to conduct an analysis of a plan to increase parking-meter fees to $2.00 per hour. Your task is to determine whether the increase is a good idea. This project is an example of _____ economics. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices positive scientific resource normative
Answer:
positive
Explanation:
Positive economics is that branch of economics which deals with the qualification, description and explanation of the economic phenomena. It mainly focuses on the fact based and objective that the statement are precise, clearly measurable and descriptive. It determines and analyzes the behavioral relationships of the cause and its effect on the economic theories.
In the context, the mayor of our city asks me conduct and make a plan to increase the parking fees to 2 dollar per hour. This project is a good example of the positive economics that will tell us whether this increase in the parking meter fee is a good idea or not.
If a product costs £80 to manufacture and a 15% mark-up is added, the price at which the product will be sold is:
Answer:
92£
Explanation:
80 * 1.15 = 92
CVP analysis focuses on how profits are affected by ______. Multiple select question. unit variable cost total fixed costs selling price sales volume break-even point mix of products sold
Answer:
Total cost
Break even point
Mixed of product sold
unit variable cost
selling price
Sales volume A , B, C, D , E , F
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Cost-volume-profit (CVP) analysis focuses on how profits are affected by selling prices, sales volume, unit variable costs, total fixed costs, and mix of products sold. The correct options are a, b, c, d and f.
What is cost-volume-profit (CVP)?Cost-volume-profit (CVP) analysis is a method of cost accounting that looks at the impact that varying levels of costs and volume have on operating profit. Companies can use CVP to see how many units they need to sell to break even (cover all costs) or reach a certain minimum profit margin. CVP analysis makes several assumptions, including that the sales price, and fixed, and variable costs per unit are constant.
The cost-volume-profit analysis, also commonly known as breakeven analysis, looks to determine the breakeven point for different sales volumes and cost structures, which can be useful for managers making short-term business decisions.
CVP analysis makes several assumptions, including that the sales price and e, fixed and variable costs per unit are constant.
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Consider the industry of your company and the current economy, and then explain how these factors might impact your company’s sales. If you do not think these factors would impact your sales, explain why they wouldn't. (2-4 sentences. 2.0 points)
Answer:I would use debt funding. And hopefully get money from angel investors.d. List at least four operating costs your business might have.Consider the industry of your company and the current economy, and then explain how thesefactors might impact your company’s sales. If you do not think these factors would impact yoursales, explain why they wouldn't.
Explanation:
Answer:
a
Explanation:
By identifying and investing early in a potential future economic star, international firms can ________ and gain experience in that country's business practices. Group of answer choices build brand loyalty build infrastructure begin to stockpile that country's currency learn which government officials need to receive kickbacks
Answer:
build brand loyalty
Explanation:
The companies could develop the brand loyalty via a deep understanding of the customer priorities and their buying behavior also it aligned what they stand. Here the effective brand would create the strong and creative identity that can the customer can related also this identity would remain the same over the time period
Therefore as per the given situation, it is a build brand loyalty