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2 years ago

Compliance is the responsibility of the Compliance Officer, Compliance Committee, and Upper Management only.

1 answer:

6 0

Compliance is not the sole responsibility of compliance officer or the upper management or the compliance committee. Compliance is the responsibility of all individuals of the company.

<h3>What is Compliance?</h3>

Compliance is the act of ensuring that all the protocols mentioned in the policy are followed effectively, all the controls are in process and in working condition with complete effectiveness.

It is the duty of all the individuals to comply with the policies and ensure that the procedures are performed as per the standard operating guidelines. The compliance is not only the duty for the compliance individuals.

It is duty for all the individuals however those charged with governance are more likely to take actions against any procedure failure, but if there is any mishap and if there is a miss in the procedures being not correctly performed, it should be reported.

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You inherit $300,000 from your parents and want to use the money to supplement your retirement. You receive the money on your 65

spayn [35]

The constant monthly withdrawal amount can be calculated by using PMT function in excel as in =PMT(rate,nper,pv) where rate = 7% = 0.07/12 (Monthly rate), nper = 20 years = 20*12 = 240 months and pv = 300,000

Constant monthly withdrawal amount =PMT(0.07/12,240,300000)

Constant monthly withdrawal amount = $2,325.90

Constant monthly withdrawal amount = $2,326 (Option C)

3 0

3 years ago

Elk Creek Company’s most popular product requires specialized labor. The employees are highly productive, but also highly paid.

dmitriy555 [2]

Answer:

The direct labor quantity variance for November=$9,000

Explanation:

To calculate the direct labor quantity variance, multiply the standard rate by the difference between the total standard hours of direct labor and the total actual hours of direct labor.

This can be expressed as;

Direct labor quantity variance=(Total standard hours-Total actual hours)×standard rate

where;

Total standard hours=rate×actual number of units produced

Total standard hours=(2×3,600)=7,200 hours

Total actual hours=7,000 hours

Standard rate=$45

replacing;

Direct labor quantity variance=(Total standard hours-Total actual hours)×standard rate

Direct labor quantity variance=(7,200-7,000)×45

Direct labor quantity variance=(200×45)=9,000

Direct labor quantity variance=$9,000

3 0

3 years ago

Which of the following is considered a source of general revenue in the Government-wide Statement of Activities?

TiliK225 [7]

Answer:

C) Sales Tax

Explanation:

The Government-wide Statement of Activities shows the revenues and expenses of the government and the general revenues indicate all the taxes, aid received from other governments and earnings from investments. According to that, the answer is that the option that is considered a source of general revenue in the Government-wide Statement of Activities is sales tax.

3 0

3 years ago

the hr plan for computer services international identifies that some positions will be hard to fill because they require skills

Sindrei [870]

Answer:

budget enough money for attractive pay levels.

Explanation:

7 0

3 years ago

Terp Bank obtains a relatively large portion of its funds from conventional demand deposits as it creates many branches with man

lapo4ka [179]

Terp Bank obtains a relatively large portion of its funds from conventional demand deposits as it creates many branches with many employees to attract demand deposits. Its interest expenses should be relatively low while its noninterest; expenses should be relatively high.

Option B

<u>Explanation:</u>

A withdrawal deposit is a banking or any other financial institution balance whereby the depositor may, without any notice or notification, remove the deposited funds from those in the account within seven days.

An example of demand deposits is checking accounts. We require the depositor to withdraw money at any moment. The volume of transactions a creditor is allowed on these transactions is infinite (even though each transaction might be paid by a bank).

For buyers, deposits of demand are essential because sometimes they house funds for daily expenses. Under no scenario, depositors could not purchase items on-demand without informing the bank first.

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3 years ago