Answer:
True
Explanation:
Whenever you want to learn something about a company or why that company's procedures were set a certain way, you need to understand the company's culture and history. For example, a lot of very vertical companies have information systems that are probably not very efficient or even include some redundant tasks, but those companies have evolved from very old and strict structures, e.g. steelworks, investment banks. While more modern horizontal companies that rely heavily on computers and the internet will have different information systems since the decision making processes are also more horizontal.
You must remember that the most important of information systems is that they are useful tools for making decisions and controlling an organization.
Answer:
no effect on net income, working capital, and retained earnings.
Explanation:
Perpetual inventory method is an accounting method of tracking stock that uses real time changes in inventory to estimate remaining stock of goods.
Tools like the POS (point of sale) and scanners are used to register sales and give accurate estimate of inventory in real time.
In the given scenario if some goods were not included in ending inventory and also their purchase was not recorded it will have no effect on net income, working capital, and retained earnings.
Because the cost of purchasing it was not recorded, so in the books there is no effect
Answer:
Ethiopia = $146; Costa Rica = $2,250
Explanation:
The GDP per person, also known as GDP per capita is a very simple formula:
GDP Per Capita = Country's GDP / Country's Population
A) Ethiopia GDP Per Capita = $8,000,000,000 / 55,000,000
= $146
B) Costa Rica GDP Per Capita = $9,000,000,000 / 4,000,000
= $2,250
Answer: C.the perpetual inventory records are accurate and related controls operate effectively
Explanation: When the perpetual inventory records are accurate and related controls operate effectively, it is frequently possible to test the physical inventory prior to the balance sheet date. An auditor will generally decide whether the inventory count can be taken before year-end primarily on the basis of accuracy of the perpetual inventory master files.
