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krek1111 [17]
2 years ago
10

Rebekah Grace has worked for Specoly Inc., for 20 years without taking a vacation. An internal control feature that would addres

s this situation would be
Business
1 answer:
kogti [31]2 years ago
3 0

Rebekah Grace has worked for Specoly Inc., for 20 years without taking a vacation. An internal control feature that would address this situation would be "Other human resource controls".

<h3>What is internal control?</h3>

Internal control is a procedure carried out by a company's board of directors, management, and other staff members and intended to give a reasonable level of assurance that the information is trustworthy, accurate, and timely of conformity with pertinent laws, rules, agreements, policies, and procedures.

An internal control framework is made up of five interconnected elements:

  • monitoring,
  • information and communication,
  • risk assessment,
  • control activities, and
  • the control environment.

To know how board of directors can select first vice president, second vice president, and third vice president?, here

brainly.com/question/17054417

#SPJ4

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During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco
Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0
2 years ago
on july 1, the knit shop paid $9,000 to townsend realty for 6 months’ rent beginning july 1. prepaid rent was debited for the fu
lubasha [3.4K]

Answer:

debit Rent Expense, $1,500; credit Prepaid Rent, $1,500.

Explanation:

6 0
2 years ago
A market economy cannot produce a socially desirable outcome because individuals are motivated by their own selfish interests.
adoni [48]
B it false
we should all know that
7 0
3 years ago
What pricing strategy could work well in any market, primarily by generating buyer interest?
hram777 [196]

Any market could benefit from the pricing approach known as price elasticity of demand, particularly if it can attract customers.

How a change in price impacts consumer demand is assessed using the price elasticity of demand.

A product is deemed inelastic if people continue to buy it in spite of a price increase (such as with cigarettes and fuel).

Contrarily, elastic goods are subject to price changes (such as cable TV and movie tickets).

The formula: % Change in Quantity % Change in Price = Price Elasticity of Demand can be used to determine price elasticity.

You can determine whether your product or service is responsive to price changes using the idea of price elasticity. Your product should ideally be inelastic, meaning that demand won't change even if prices do.

Learn more about price elasticity of demand here.

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3 0
2 years ago
The area that consumes the majority of a family’s income is
neonofarm [45]

The area that consumes the majority of a family’s income is Housing.

This is according to the Bureau of Labor Statistics' info for 2017.

8 0
3 years ago
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