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cluponka [151]
3 years ago
9

Which of the following is a good internal control mechanism for cash disbursements? Multiple Choice Maximum purchase limits set

on debit and credit cards. Expenditures above a particular amount do not need authorization. All checks need to be signed only by one authorized person. All transactions are made using cash with the required documentation.
Business
1 answer:
Anuta_ua [19.1K]3 years ago
4 0

Answer:

The correct option is that maximum purchase limits set on debit and credit cards

Explanation:

It is clearly wrong to ignore authorization for expenditures above a particular threshold,because that encourages employees to perpetrate fraud.It would be more appropriate to say expenditures above a particular limit requires authorization.

When one person signs all checks, the implication of that is a company where the authorizer is allowed to use his wisdom to make cashflow decision that could adverse effect even on the survival of the business.

Documentation of all transactions is good but using cash at all times  exposes the business to the risk of cash conversion and theft

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Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Comet redeems 50 of Pam's
saw5 [17]

Answer:

Correct option is C

Explanation:

Total E&P = $ 160000

Total voting Right Sold = 50/ (100+100) = 25%

Reduction of E& P due to exchange = Total E&P*Total voting Right Sold

Reduction of E& P due to exchange = 160000*25%

Reduction of E& P due to exchange = 40000

Reduction of E& P Lower of Total E&P*Total voting Right Sold or Amount realised

Reduction of E& P Lower of 40000 or (50*1000)

Reduction of E& P Lower of 40000 or 50000

Answer

C. A reduction of $40,000 in E&P because of the exchange.

 

8 0
2 years ago
Different tools and materials needed in <br> building beddings​
Anika [276]

Answer:

I didn't know

Explanation:

I am. so sorry

5 0
3 years ago
A machine that cost $225,000 has an estimated residual value of $15,000 and an estimated useful life of 15,000 machine hours. Th
algol [13]

Answer:

$57,000

Explanation:

<u><em>Step 1 : Depreciation Rate</em></u>

Depreciation Rate = (Cost - Residual Value) ÷ Estimated Production

therefore,

Depreciation Rate = $14.00 per machine hour

<u><em>Step 2 : Depreciation expenses</em></u>

Depreciation expense = Depreciation Rate x Annual production

therefore

Year 1 = $42,000

Year 2 = $56,000

Year 3 = $70,000

Total    = $168,000

<em><u>Step 3 : Book Value</u></em>

Book Value = Cost - Accumulated Depreciation

                    = $225,000 - $168,000

                    = $57,000

Conclusion :

book value at the end of year 3 is $57,000

8 0
3 years ago
In a long-run equilibrium,
Serga [27]

Answer: Option (d) is correct.

Explanation:

Correct option: Only a perfectly competitive firm operates at its efficient scale.

In the perfectly competitive market and in the long run, the firms who are making losses will exit the market and those firms who are able produce at a point where price is equal to the average total cost will exist in the market.

However, monopolistic firms operates at a below efficient level of production and with an excess capacity.

Competitive firms are generally enjoys the productive efficiency in the long run because these firms have the capability to produce at a lower average total cost.

8 0
3 years ago
Personal finance and I need help
Alex777 [14]
A. It is decreased by 50,000 (I'm 50% sure)
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3 0
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