<em>My </em><em>advice</em><em> to the owners of ABC Company </em>concerning internal controls affecting the office manager would be as follows:
It is time to promote the office manager. His promotion would relieve him of the responsibilities he handles presently. Promoting him would also enable management to segregate his duties.
Secondly, after implementing the promotion and segregation of duties, management should implement a <em>compulsory annual </em><em>leave policy</em>. Having a company-wide leave policy bolsters internal controls by preventing and discovering suspicious fraudulent activities.
Thus, if the owners of ABC Company would buy these <em>pieces of </em><em>advice</em>, they would improve internal controls without offending the hardworking former office manager.
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Answer:
Amount deductible as a charitable contribution=$175.
Explanation:
Given data:
Cost at which the ticket is purchased=$250
Actual cost of the ticket=$75
Required:
Amount deductible as a charitable contribution=?
Solution:
Any amount above the fair market value/Normal value will be the deductible charitable contribution.
In our case:
Amount deductible as a charitable contribution=Cost at which the ticket is purchased - Actual cost of the ticket.
Amount deductible as a charitable contribution=$250-$75.
Amount deductible as a charitable contribution=$175.
<span>“I think you handled the problem in a very clever way.” is the correct sentence
</span>
Answer:
A. rose 60% from the cost of the market basket in the base year.
Explanation:
The base year of 1982-1984 represents a 100 value for the index, and anything above it, is an over 100 value.
A 60% rise in 12 years (1984 to 1996) represents an average inflation rate of 5% every year, a bit high, but still within a moderate range.
The formula to find the adjusted consumer price index is:
Adjusted CPI = (CPIn / CPIb) - 1
Where:
CPIn = consumer price index in selected year (in this case 1996)
CPIb = consumer price index in base year (in this case 1982-1984)