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3 years ago

Which of the following is true of compliance reporting?

Business

1 answer:

Margarita [4]3 years ago

4 0

Answer:

C. Compliance reports relying on XBRL are more advanced than electronic PDFs.

Explanation:

Compliance reporting is a document compiled by often by the chief compliance officer that shows how a company is complying with the set rules, standards or regulations, examples of compliance report may be financial, technical, operational, and cybersecurity reports.

Compliance report relying on XBRL are more advanced than electronic PDFs because it gives easy access to communicate between businesses, it is also reliable and reusable means of information sharing.

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What is the best definition of profit?

weqwewe [10]

Answer:

The correct answer is D. Profit is the financial gain from business activity minus expenses.

Explanation:

For example a company whose business activity is selling chairs has sold 10 chairs in a month at 10 dollars each which it has bought in 6 dollars (per chair). The company has incurred 5 dollars as admin expenses and had paid 10 dollars to commercial bank as interest. So what is company profit?

Calculation.

The profit will be 25$ as shown below.

Sales (10*10) 100

Purchase (10*6) (60)

Admin expense (5)

Financial expense (10)

Profit 25

3 0

3 years ago

Read 2 more answers

When a firm is given monopoly power, it loses its freedom of contract, and a governmental body is given the power to determine t

Pani-rosa [81]

Answer:

The government agency is providing basic and/or essential services that further deepen the interests of members of the public

Explanation:

The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.

To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.

7 0

3 years ago

Simple difinition of organized

svp [43]

Answer:

Make arrangements or preparations for (an event or activity)

5 0

3 years ago

Which is a measure of quality control equal to one fault in one million opportunities problems?

snow_tiger [21]

The six 9s of the quality rule are a measure of quality control that is equivalent to one error in a million potential for problems.

<h3 /><h3>What does "quality control" mean?</h3>

A technique or collection of procedures known as quality control (QC) is designed to make sure that a service or product is made in accordance with a specified set of quality criteria or that it satisfies the needs of the client or customer.
There are various approaches to quality control. These include the Taguchi Method, Six Sigma, an x-bar chart, and 100% inspection mode.
Setting standards and conducting tests to ensure that anything, such as a product or service, is completed correctly is known as quality control.

To learn more about quality control, refer to:

brainly.com/question/14167114

#SPJ4

5 0

2 years ago

WalCo is a manufacturing company. Assume the estimated inventories on January 1, 2020, for finished goods, work in process, and

ASHA 777 [7]

Answer:

Cost of goods sold=$955000

Explanation:

we know that to calculate cost of goods sold we have to first finds cost of goods manufactured and to calculate cost of goods manufactured we will need total manufacturing cost.

Step#01: Total manufacturing cost=?

Total manufacturing cost= raw material used+direct labour+ factory overhead

Raw material used=?

Raw material (open)= 72000

Add: Raw material purchase=<u>467000</u>

539000

less: Raw material (ending)= (<u>93000</u>)

Raw material used 446000

Total manufacturing cost=446000+363000+213000=1021000

Step#2: Cost of goods manufactured (COGM)=?

we know that: COGM= Total manufacturing cost+ work in process (open)-work in process (end)

COGM= 1021000+63000-84000=1000,000

Step#3: Cost of goods sold (COGS)=?

we know that : COGS= Cost of goods manufactured+finished goods (open)-finished goods (ending)

COGS= 1000000+171000-216000=955000

6 0

3 years ago