Answer:
The answer is: True
Explanation:
An incentive is a punishment or a reward that induces someone (or the general public) to act a certain way. Many times incentives work because people compare costs and benefits. For example, in Europe gas prices are extremely high due basically to high taxes on gas. That is why most cars sold in Europe are much smaller and fuel efficient than those sold in the US were taxes on gas are usually much lower so the gas price is also much lower. The incentive is saving money even though most European cars aren´t as comfortable as those sold in the US.
In this specific question, those who wanted to drink beer will probably calculate how many beers they need to buy or drink to offset the expenses of going to the next county to buy beer. Probably no one will travel several miles just to buy 1 beer, but at some amount of beer the math will make you drive. Besides losing business in your own county, another collateral damage is the rise in drunk driving.
Answer:
(1) $1,885
(2) $1,540
Explanation:
Given the following sequence:
200 units at $5, 600 units at $6 and 145 units at $7
Ending inventory = 290 units
(1) FIFO method
Cost of ending Inventory:
= 145 units at $7 + 145 units at $6
= 145 × $7 + 145 × $6
= 1,015 + 870
= $1,885
(2) LIFO method
Cost of ending Inventory:
= 200 units at $5 + 90 units at $6
= 200 × $5 + 90 × $6
= 1,000 + 540
= $1,540
Answer:
d. discovering unknown patterns in a large pool of data.
Explanation:
Data mining is discovering unknown patterns in a large pool of data. Data mining is a way of generating information from data.
Data mining can be used to:
1. Gather customer information which can be used in marketing
2. Detect fraud
3.credit risk management
I hope my answer helps you.
Answer:
1. Once a month, the sales department sends sales invoices to the accounting department to be recorded.
⇒ documentation procedures
Unless all of the company's sales take place only once a month, sales should be recorded as soon as possible. Accounting records must be as precise and accurate as possible, and they must be processed on time. Stacking invoices makes no sense, since sales might be on cash or the collection period might be very short. Who holds the money until the sales records are made?
2. Leah Hutcherson orders merchandise for Rice Lake Company; she also receives merchandise and authorizes payment for merchandise.
⇒ segregation of duties
One single person cannot be responsible for the whole process, since this creates a huge opportunity for fraud. Imagine if the person in charge of the inventory is also in charge of making new purchases, paying for them and reporting ending inventory. No company would be able survive one year, while the person in charge would get rich.
3. Several clerks at Great Foods use the same cash register drawer
⇒ establishment of responsibility
If everyone is allowed to collect money, no one can be responsible for any loss.
Answer: c. used to record an adjustment to Bad Debt Expense for the year ending December 31, 2018
Explanation:
Since the events occur after the balance sheet date, but before the balance sheet is issued, and gives more evidence about conditions that existed at the balance sheet date, then it should be used to record an adjustment to Bad Debt Expense for the year ending December 31, 2018
This is because an adjustment gives more information to the information already given in the balance sheet. Therefore, the correct option is C.
