Answer:
Kurt will have a smaller account value than Jeff will
Explanation:
The formula for calculating future value = A (B / r)
B = [(1 + r)^n] - 1
Jeff : $3000 x [(1.05^3 - 1 ) / 0.05] = $9457.50
Kurt :$3000 x [(1.03^3 - 1 ) / 0.03] = $9272.70
Jeff would have a higher account value than Kurt
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
Answer:
C. Selling is a larger process that involves many steps that lead to and support this narrower definition of selling.
Answer:
Baruch Shemtov's product is tie
Explanation:
Baruch Yehudah Shemtov was born on September 22, 1987.
Baruch has passionate about the design and the fashion from his young age, he was launched his first line of ties at just age 15 years.
he is a fashion entrepreneur since his junior class of high school
Today also Baruch ties routinely sellout in the tony department store and online
Baruch neckties and all accessories are made in USA
and In 2013, he launched boy ties collection and he coordinating with father-son neckties range at Bergdorf Goodman
Answer and Explanation:
The computation of the payback period for each investment is shown below;
For Option 1
= Initial Investment ÷ Annual Cash Flow
= $280,000 ÷ $134,569
= 2.081 Year
Here Annual cash inflow is
= Net income + Depreciation
= $80,769 + (($280,000 - $11,000) ÷ 5)
= $134,569
For Option-2
= Initial Investment ÷ Annual Cash Flow
= $200,000 ÷ $70,429
= 2.84 Year
Here Annual cash inflow is
= Net income + Depreciation
= $44,000 + (($200,000 - $15,000) ÷ 7)
= $70,429
