Answer:
d.accounting records continuously disclose the amount of inventory
Explanation:
Under the perpetual inventory system, an entity continually updates its inventory records to account for additions to and subtractions from inventory for such activities as:
Received inventory items
Goods sold from stock
Items moved from one location to another
Items picked from inventory for use in the production process
Items scrapped
<u>Answer:Option C </u>Paid-In Capital in Excess of Par will be credited for $66,000
<u>Explanation:</u>
Given
No of shares 1,500
Par value $6
Common stock $75,000
Par value of stock = No of shares x Par value
=1500 x 6
=9,000
Excess paid in capital = Common stock - Par value
=75000-9000
=$66,000
So the Paid in capital which is excess of par value will be credited. It can also be termed as the market value of the shares. Par value will be mentioned in the share document. When there is additional paid in capital it is a credit balance in company accounts.
Answer:
Explanation:
This is an example of payroll fraud.
Pay roll fraud is a fraudulent practice where an employees take an advantage of a loophole in the internal control system to claim payment that they are not entitled to. One way of practicing it is by keeping record ghost workers
Two methods of controlling it are
A clock -in-system : This requires an employee to use a unique pass code to sign in and our of work . Some technology even finger print for this purpose which strictly restrict signing in to the assigned user . This information are used for payment process
Another method is the direct deposit of pay checks into employees bank account . This method will prevent and other person to divert pay checks for other use.
if You fail to pay your annual taxes, you can get arrested.
<span>In order to compete effectively, many companies have taken proactive steps to hire and nurture people from a broad range of backgrounds. This is an example of social business environment. </span>