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3 years ago

Economic regulation occurs when

1 answer:

7 0

The correct option is D.
Economic regulation refers to imposition of rules by a government, backed by the use of penalties that are specifically targeted at modifying the economic behavior of individuals or industries in the private sector. Regulation is often used to narrow down choices in the targeted area.

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Internal controls are designed to accomplish five objectives that include compliance with legal requirements, promote operation

Ira Lisetskai [31]

Answer:

<u>Ensure accurate reliable accounting records</u>

Explanation:

Internal controls refer to those processes and procedures employed by the management of an entity so as to ensure efficient operations and to keep a check on frauds and compliance with better reporting requirements.

For example, biometric system of recording employee attendance which keeps a check as in who is actually on payroll and elimination of any dummy entries from the records.

The purpose of internal control is to safeguard assets, ensure that employees adhere by company policies, compliance with the law, promote operational efficiency and ensure reliable financial reporting without misrepresentation of facts.

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3 years ago

Inflation is when _________ money is paid for the same amount of goods and services than in a previous time period. the same amo

Kisachek [45]

Answer:

Explanation:

Use google

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3 years ago

A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and Page 565 $5,440

Juli2301 [7.4K]

Answer:

$68,000

Explanation:

The long-term note payable is a debt that is formally established through a written agreement. An example of long-term note payable is a bank loan.

When the principal and the interests of a long-term note are paid, they represent Cash outflows from the business and are recorded in the Cashflow Statement. However, their treatments are different. Another way to put it is that they bring a reduction in the cash of the organisation.

The $68,000 principal amount paid is an outflow from the company that is recorded in the financing activity section of the Cash Flow Statement

The Interest of $5,440 is also an outflow from the business but it is reported in the operating activity section of the Cash Flow Statement. The reason for its report is that it is actually reported in the Organisation's Statement of Income as an expense for the year. It, therefore, qualifies as an operating activity expense or outflow.

7 0

3 years ago

Exercise 19-08 a-b Oriole Corporation incurred the following costs while manufacturing its product.

telo118 [61]

Answer:

$371,700

Explanation:

The computation of the cost of goods sold is shown below:

Cost of goods manufactured = Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work in process inventory - ending work in process inventory

where,

Manufacturing overhead cost is

= Depreciation on plant + Factory supplies used + Property tax on plant

= $61,000 + $29,300 + $21,800

= $112,100

The cost of goods manufactured is

= $126,400 + $113,500 + $112,100 + $14,600 - $16,700

= $349,900

Now the cost of goods sold is

= Beginning finished goods + Cost of goods manufactured - ending finished goods

= $70,900 + $349,900 - $49,100

= $371,700

6 0

3 years ago

What is a tax refund?

Tatiana [17]

Answer:

A tax refund is essentially a payment to the taxpayer when the taxpayer pays more tax than they owe.

Explanation:

May I have brainliest please? :)

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2 years ago