Answer:
True
Explanation:
This is probably one of the greatest issues that cartels around the world face, since their agreements are difficult to maintain because it is very difficult to control the price and output policies of its members.
Even the largest cartel in the world, the Organization of the Petroleum Exporting Countries (OPEC), has problems when it comes to monitoring the petroleum output of its members. When some countries need more money they just increase their petroleum production even if the rest of the cartel doesn't agree with it.
The True statement about internal controls is <em>B. A system of internal controls is designed to prevent or detect errors and fraud.</em>
- Internal Controls are the techniques that an entity institutes to ensure the integrity of financial and accounting information, promote accountability of its employees, and prevent fraudulent activities.
- Strong internal controls can still be circumvented. Internal controls are not limited to company policies and procedures against fraud. The employment of a husband and wife or close relations in the same company is not prohibited by control procedures or separation of duties.
Thus, the true statement about internal controls is B.
Read more: brainly.com/question/17056417
Answer:
$2884
Explanation:
Given that:
- 28 employees qualify for one vacation day each
- Average daily wage is $103 per day
So he amount of vacation benefit expense to be recorded for the month of July:
= number of employees * average daily wage
= 28*$103
= $2884
Answer:
The firm's PEG ratio is equal to 5.93
Explanation:
A valuation metric for determining the relative trade-off between the price of a stock, the earnings generated per share (EPS), and the company's expected growth are referred to as the 'PEG ratio' (price/earnings to growth ratio).
Generally, a company with a higher growth rate would have a higher P/E ratio.
PE ratio = Stock price/EPS
= 23.4/1.36
PE ratio = 17.205
PEG ratio = PE ratio/ Earning growth ratio
= 17.205/2.9
PEG ratio = 5.93
Answer:
The entries to record the transactions are given below.
a. Provide music lessons to students for $7,000 cash.
Debit Cash Asset $ 7000
CreditService Revenue income $ 7000
b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash.
Debit Prepaid Insurance equipment Asset $ 3000
Credit Cash Asset $ 3000
c. Purchase musical equipment for $10,000 cash.
Debit Equipment Asset $ 10,000
Credit Cash Asset $ 10,000
d. Obtain a loan from a bank by signing a note for $10,000
Debit Cash Asset $ 10,000
Credit Notes payable $ 10,000
