Answer:
(a) Physical controls
(b) Human resource controls
(c) Independent internal verification
(d) Segregation of duties
(e) Establishment of responsibility
Explanation:
(a) All over-the-counter receipts are entered in cash registers. That is an example of the physical controls principle.
(b) All cashiers are bonded. That is an example of the human resource controls principle.
(c) Daily cash counts are made by cashier department supervisors. That is an example of the independent internal verification principle.
(d) The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. That is an example of the segregation of duties principle.
(e) Only cashiers may operate cash registers. That is an example of the establishment of responsibility principle.
Answer:
The total liabilities for the next year amount to 37163 $.
Explanation:
To calculate the liability we will use the simple equation given below.
Asset-equity=liability
Assets-RE=Liability
Current year Change* Next Year
Assets 180,506.00 29,506.00 151,000.00
Common Stock (11,365.00) 0 (11,365.00)
Retain Earning (92,472.00) (10,000.00) (102,472.00)
Liability- BaL figure 76,669.00 37,163.00
*Retain earning= Net profit- dividend
Hence balancing figure that is 37,163 dollars is liabilty for next year,
Answer:
An economy could get stuck in a recessionary gap
Explanation:
Keynes believed that wages may be inflexible in the downward direction and which would consequently cause an economy to get stuck in the recessionary gap. The recessionary gap happens when a country's real GDP is lower than it's gross domestic product at a state of full employment. It shows the difference between the actual and potential production in an economy. But with the actual being smaller or lower than the potential production.
