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lakkis [162]
4 years ago
6

Inventory accounting can often be used for unethical or fraudulent behavior. discuss the accounting principles and practices as

they relate to inventory, and list one or more way(s) that fraudulent activity can take place. be as detailed as possible, and if appropriate, include a personal experience you have encountered. next, discuss at least one way to reduce the risk of fraudulent practices such as this from taking place in a business.
Business
1 answer:
Maru [420]4 years ago
3 0
<span>The accounting principles and practices as they relate to inventory can be used in unethical ways. For example in my industry many teachers have to collect inventory and check it in but they steal the inventory for themselves. One way to reduce the risk is to have 2 people check off on the inventory.</span>
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Kushman Combines, Inc. has $20,000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inven
Dominik [7]

Answer:

I would say A or b

Explanation:

if it cost them 10,000

and they sold for 50,000 they would need to reinventory. but first count max out cost and spendings for goods hope this helps

4 0
4 years ago
The stock price of Baskett Co. is $54.20. Investors require a return of 12 percent on similar stocks. If the company plans to pa
Alchen [17]

Answer:

5.08%

Explanation:

using the Gordon growth model we can calculate the expected growth rate:

current stock price = dividend / (required rate of return - growth rate)

$54.20 = $3.75 / (12% - g)

12% - g = $3.75 / $54.20

12% - g = 6.92%

g = 12% - 6.92% = 5.08%

5 0
3 years ago
The weight of a candy bar in ounces is an example of
Tju [1.3M]
Weight data is your answer
6 0
3 years ago
Dr. Peabody contributed $5,000 in cash to the company. Which of the following statements is correct?
Vinvika [58]

Answer:

D. Cash is debited $5,000; capital is credited $5,000.

Explanation:

The action by Mr. Peabody will increase both cash and capital accounts by $5000 each. As per the accounting equation,( Assets = owners equity + liabilities) cash and capital are on the opposites sides.  Cash is an asset, while capital is equity.

An increase in an asset is a debit, while an increase in capital is credited. In this case, the cash account will be debited by $5000, while the same amount will credit the capital account.

5 0
3 years ago
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flo
Brums [2.3K]

Answer and Explanation:

The computation of the purchase of fixed assets is shown below:-

March 12 Purchase of  fixed assets = $274,000. This same is shown in the investing activities section of the cash flow statement in the negative sign

October 4 Sale of fixed assets = $151,000. This same is shown in the investing activities section of the cash flow statement in the positive sign

Gain on sale of the fixed asset is

= Sales Value - Cost of asset

= $151,000 - $129,000

= $22,000

This amount is shown in the operating activities section of the cash flow statement in the negative sign

7 0
4 years ago
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