Answer:
A nation's economic system is the combination of policies, laws, and choices made by its government to establish the systems that determine what goods and services are produced and how they are allocated. Economics is the study of how a society uses scarce resources to produce and distribute goods and services.
Answer:
b. Somaya just launched an online shoe company
d. A publishing company sells health-based curricula.
Explanation:
Pure goods are goods that are not associated with any services.
Pure services are services not associated with any physical goods.
I hope my answer helps you.
Answer:
C) Credit to Unearned Management Fees for $62,000.
Explanation:
* There is an Inconsistency with the amount of fee mentioned in Question and In options $60,000 and 62,000 respectively.
The Service fee is received in advance and the service is not been performed. You can record the revenue when you perform the service against the amount received. So, amount 62,000 will be the Unearned Management fee and it will be a liability and the Journal transaction for this event will be as follows:
Dr. Cash $62,000
Cr. Unearned Management Fees $62,000
So the correct option is C) Credit to Unearned Management Fees for $62,000.
Answer:
A. A professional review
Explanation:
Let's use process of elimination:
A) A professional is least likely to be biased, unless they've been paid.
B) An advertisement is by the manufacturer, and thus more likely to be biased.
C) Online testimonials can also be biased, because most of them are paid.
D) The seller only wants to make money. They're going to be the most biased of the bunch, as it will hurt their chances of making money if they give you a bad opinion.
Factors related to the susceptibility of accounts to misstatement or fraud include the Size of the account balance and the volume of transactions.
A fraud risk factor is an event or condition that: (1) shows rationalizations or attitudes that justify wrongdoing; (2) Demonstrates motivation or pressure to commit fraud; or (3) provides an opportunity to commit fraud.
From the auditor's perspective, the three components of audit risk are inherent risk, control risk, and detection risk.
Inherent risk refers to the vulnerability of a statement to susceptibility misrepresentation due to error or fraud that, individually or in combination with other misrepresentations, could be material before appropriate controls are applied. increase.
Learn more about susceptibility at
brainly.com/question/28169324
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