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2 years ago

Does audit service needed in Auchi polytechnic student union government of yes why

Business

1 answer:

ladessa [460]2 years ago

7 0

Yes audit service is needed in the Union government of this school called Auchi polytechnic.

<h3>What is audit?</h3>

This is the term that is used to refer to the official inspection that is done into the accounts of an organization of which this Union can be grouped under.

It helps to verify and also check the financial information of the entity. The reason why the audit is needed is because it would help to expose issues that may have to do with misappropriation of funds by the union.

It would also helps to tell the school if the financial report that the union makes is the same as the financial reflection of the Union at a particular point in time.

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It is less important to account for factors like warranties and durability when purchasing a

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Long-term product or b

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3 years ago

Read 2 more answers

The long-run aggregate supply curve would shift left if the amount of labor available

liq [111]

Answer:

The correct answer is option a.

Explanation:

The long run aggregate supply curve is inelastic and vertical in shape. The reason behind this is that in the long run the output level is not affected by the change in price level. It is rather affected by the quantity of inputs.

A leftward shift in the long run aggregate supply means that the output level is decreasing. This decrease in input in this case is either because of decrease in quantity of labor available,or because of increase in minimum wages the firms are hiring less labor.

So, option a is the correct answer.

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3 years ago

The problem with bank runs is not that ____________will fail; they are, after all, bankrupt and need to be shut down. The proble

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Answer:

Insolvent banks;Solvent banks.

Explanation:

A bank run can be defined as a situation where bank clients or depositors make withdrawals of their money simultaneously from banks as a result of being scared or afraid the depository institution will run out of cash (bankruptcy) and become insolvent.

The problem with bank runs is not that insolvent banks will fail; they are, after all, bankrupt and need to be shut down. The problem is that bank runs can cause solvent banks to fail and spread to the rest of the financial system.

In order to counter the problem with bank runs, the Federal Deposit Insurance Corporation (FDIC) was established on the 16th of June, 1933.

Furthermore, to avoid bank runs or other financial institutions from being insolvent, the Federal Reserve (Fed) and Central banks (lender of last resort) are readily accessible and available to give monetary funds to these institutions when they're running out of money and as well as regulate their activities.

6 0

3 years ago

Corporation began with retained earnings of million. Revenues during the year were million, and expenses totaled million. decla

lakkis [162]

Complete Question:

Cell One Corporation began 2018 with retained earnings of $ 260 million. Revenues during the year were $ 520 million, and expenses totaled $ 340 million. Cell One declared dividends of $ 61 million. What was the company's ending balance of retained earnings? To answer this question, prepare Cell One's statement of retained earnings for the year ended December 31, 2018, complete with its proper heading.

Answer:

Cell Corporation

Statement of Retained Earnings for the year ended December 31, 2018:

$'million

Retained Earnings, Dec. 31, 2017 260

Net Income 180

Dividends (61)

Retained Earnings, Dec. 31, 2018 379

Explanation:

a) Data and Calculations:

Beginning Retained Earnings = $260 million

Revenues during the year were $ 520 million

Expenses totaled $ 340 million

Net Income (Revenue - Expenses) $180 million

Cell One declared dividends of $ 61 million

b) Cell Corporation's Retained Earnings for the year ended December 31, 2018 is the difference between the beginning retained earnings, net income, and the amount of dividend declared during the current year. This figure gives the amount of equity that has been retained for growing the business, which is an important internal source of corporate funding.

8 0

2 years ago

Dee's Fashions has a growth rate of 5.2 percent and is equally as risky as the market while its stock is currently selling for $

emmasim [6.3K]

Answer:

12.6%

Explanation:

Using the Capital Market Pricing Model (CAPM) to compute the expected rate of return on Dee's Fashion stock.

Expected rate of return = $R_{f} +\beta (R_{m} -R_{f} )$

Where R(f) = risk free rate of return, or market return less risk premium = 12.6% - 8.7% = 3.9%

$\beta$ = the risk of the stock relative to the market risk. In this case, beta = 1, since the company is equally as risky as the market (as noted in the question)

R(m) = return of the stock market = 12.6%

Therefore, the expected rate of return on the stock

= 3.9% + 1 * (12.6% - 3.9%)

= 3.9% + 8.7%

= 12.6%.

The return is the same as the stock market return because the stock is equally as risky as the market.

5 0

3 years ago