Answer:
a. Compare the details of cash receipts with journal entries.
b. Prepare a bank transfer schedule.
c. Confirm the terms of borrowing with the lenders agreement.
d. Send request to confirm the entity's account receivable balance.
e. Inspect payroll data of employees and cross check with the transaction recorded.
f. Obtain cut off bank statement to reconcile the transaction.
g. Examine the selected repair order and physically examine the equipment whether repair work is don or not.
h. Examine the supporting documents for the invoice such as purchase order, goods received note and Purchase requisitions.
i. Inspect the payroll endorsements for similar handwriting.
Explanation:
Audit is mandatory for all the companies. The verified financial statements are considered as reliable because they are rechecked by the auditors and if any error or fraud is found it is immediately corrected and rectified. Audit is a critical process which involves objectivity and integrity of a person. The auditors must be independent and they should not have any familiarity with the business employees or owners.
Answer:
The correct answer is: Online transaction processing (OLTP).
Explanation:
The acronym OLTP stands for Online Transaction Processing. These procedures facilitate the management of transactional applications for data entry, recovery and processing. It is typical of operational databases, and the software packages used for these technologies are based on the client-server technique. These systems are often used by companies that enjoy a distributed computer network, such as the agents responsible for the supply chain, airlines, banks, industry, etc.
This system optimizes access to data, facilitating the tasks of reading, writing and analysis that are carried out frequently. OLTP procedures structure this data according to its level of application (custom management program, CRM or ERP implemented ...), in addition, they do not have to remain uniform in different departments due to the common lack of compatibility. Finally, they are characterized because the data history is limited to the present or to the most recent.
In this way, the systems of this technology record the business interactions that are produced throughout the daily operation of the organization, admitting the consultation of data for different interventions.
Super market are big but hypermarket is much bigger and it offers big ticket items such as appliances
Answer:
The finance charge
Explanation:
The finance charge is the total cost incurred when borrowing money, including interest amount and all other fees. It is the extra money paid on top of the borrowed amount. The finance charge may be a flat fee or a percentage of the principal amount.
The finance charge represents the expense incurred for using credit. The finance charge is an important consideration when choosing a preferred lender.
Answer: c.Reject the investment if it returns less than 15% ROI.
Explanation:
Additional investments should yield incremental returns if they are to be accepted. In the previous year, Division A had an Return on Investment of 15%, when an additional investment is being considered, it must bring in more than that 15% if it is to be accepted.
Therefore, if an investment is to give a less than 15% ROI, it should be rejected as it is not bringing additional returns for the Division.