Answer:
The correct answer is: b, c and d.
Explanation:
Internal controls are are policies or processes put in place by the management arm of a company to ensure that the goals set by the firm are achieved both in the long term and short-term. These processes ensure safe custody of assets, reliability in financial information provided or used by the firm, compliance with regulations as well as effectiveness and efficiency in the day to day operations. With this in mind, maximisation of management compensation is not a goal of internal controls. According to COSO, there are 3 main goals of internal controls: to ensure effectiveness and efficiency of operations, reliability of financial reporting and compliance with laws and regulations.
Answer:
Collection from Customers =$487,000
Explanation:
Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance
=97000+$519,000-$65,000
=$487,000
Answer: the intentions of the parties is inferred from their conduct by the court as well as the circumstances of the contract
Explanation:
An implied contract is referred to as an agreement that's legally-binding which was created due to the actions, or circumstances of the parties that were involved.
In an implied contract, the parties typically possess no written contract, but an obligation is created by the law based on the conduct of the parties involved.
Answer:
Academic achievements. ...
Relevant coursework. ...
Clubs. ...
Sports and musical instruments. ...
Volunteer work. ...
Languages. ...
Computer skills. ...
Any kind of employment at all.
Explanation:
Answer:
$31,104
Explanation:
EBIT / 12,000
= [EBIT - ($120,000 × .072)] / [12,000 - ($120,000 / $36)]
EBIT = $31,104
Therefore the minimum level of earnings before interest and taxes that the firm is expecting will be $31,104