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1 year ago

Summarize the primary characteristics of an effective internal control system for cash.

1 answer:

3 0

Internal controls shield your business from fraud, theft, and mistakes. Effective internal controls preserve your assets, cut down on loss, and maintain the accuracy of your financial reporting, among other traits.

Internal control is a procedure implemented by a company's management, board of directors, and other staff members and is intended to give reasonable assurance that the information is accurate, timely, and reliable. of adherence to relevant laws, rules, agreements, policies, and procedures.

Internal control is a procedure for ensuring that an organization's objectives in operational effectiveness and efficiency, accurate financial reporting, and compliance with laws, rules, and policies are met, according to the definitions of accounting and auditing.

Learn more about Internal control here

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Can anyone help plz?

Ulleksa [173]

Explanation:

this is easy to understand and even to answer so if I tell u the answer

how will u learn to do things yourself. By me being a business Woman i learn't that in order to gain sumthing in life u have to do it yourself

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2 years ago

The business was started when the company received $48,500 from the issue of common stock. Purchased equipment inventory of $176

masya89 [10]

Answer:

Total current liabilities 85.008,33‬

Explanation:

current liabilities: obligations that will setlte within a one-year period

accounts payable from the purchase of equipment:

cost: 176,500

paid: (125,900)

balance: 50,600

waranty liaiblity:

191,000 x 5% = 9,550

sales tax payable:

sales for 191,000

paid for (141,000)

unpaid for 50,000 x 6% = 3,000

note payable with a local bank:

principal: 21,500

accrued interest: 21,500 x 5% x 1/3 = 358,33

net: 21,858.33

Total current liabilities:

accounts payables 50,600

warrant liability: 9,550

sales tax payable: 3,000

note payable: 21,858.33

85.008,33‬

5 0

3 years ago

Two years ago, you invested $3,000.00. Today, it is worth $3,750.00. What rate of interest did you earn?

enot [183]

The annual interest rate is 11.803%.

Assumptions:

- Interest is compounded annually.

4 0

3 years ago

The slope of the production possibility frontier is determined by the _____ of expanding production of one good, measured by how

Ket [755]

Answer:

The correct answer is the opportunity cost of producing a good.

Explanation:

The production possibility curve or frontier shows all the different bundles of two goods that can be produced using the given resources.

The opportunity cost of a good is the amount of other good sacrificed to produce this one.

The slope of production possibility curve represents the opportunity cost of producing a good.

8 0

3 years ago

A sports team's owner is given a videotape of his star player physically striking his girlfriend in an elevator, causing her sev

Snowcat [4.5K]

Answer:

The answer is: D) Fire the player. The team may suffer financially at first, but if the public has faith in the organization, the team and the league will benefit in the long run. If the owner keeps the tape a secret and the public finds out about his actions, the team - and society - will suffer harm from the loss of public trust.

Explanation:

Akers firmly believed that ethics were fundamental to economic competitiveness. He argued that without ethical behavior, individuals, corporations and society as a whole couldn´t be economically competitive.

So in this case, he would have simply terminated the player´s contract without regarding any of the potential downsides for the team.

8 0

3 years ago