Answer:
The correct answer is letter "A": Digital technology.
Explanation:
When talking about commerce, digital technology has allowed buyers and sellers from different parts of the world find and offer goods and services without the need to physically meet. The transaction also includes all the steps and efforts necessary to deliver consumers the product at the door of their houses.
Besides, digital technology has allowed consumers to express their ideas massively based on the experience they had with the digital vendors and price so other prospective consumers have an idea of the service provided by the merchant is good or if they should look for a different seller.
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
Answer:
$60,000
Explanation:
Double declining method is a depreciation method used to expense the cost of an asset.
Depreciation expense using the double declining method = Depreciation factor × cost of asset
Deprecation factor = 2 (1/useful life) = 2(1/8) = 1/4
Depreciation expense in 2016 = 0.25 × $320,000 = $80,000
Net book value = $320,000, - $80,000 = $240,000
Deprecation expense in 2017 = 0.25 x $240,000 = $60,000
I hope my answer helps you
Answer:
C) within an industry
Explanation:
Cost leadership is being competitive by having lowest cost op operation in the whole industry. This makes the company to offer cheap product to the customers and have an competitive edge in the market. Many big corporation adopt cost leadership in their strategic marketing campaigns. So, the correct answer is C) within an industry.
