An installment payment is equal payments every month, meaning it is the correct answer. (B)
Answer:
C. Unauthorized acquisition or use of data or assets that could affect financial statements will be prevented or detected in a timely manner.
Explanation:
Internal Control Financial Reporting is a framework designed to help companies manage their financial reporting and achieve the greater goals of risk assessment, control, information and communication, as well as monitoring. One of the weaknesses that could characterize ICFR is its inability to assure timely prevention and detection of unauthorized acquisition or use of data.
The scheme however ensures that financial records are maintained and that transactions are prepared according to GAAP rules. ICFR ensures that misstatements are detected in financial reporting.
Answer:
D. Asset S has $103,333 more in depreciation per year.
Explanation:
For computing the greater annual straight minus line depreciation first we have to determine the each assets depreciation expense which is shown below:
For Asset L
= (Original cost + installation cost - salvage value) ÷ (useful life)
= ($4,000,000 million + $750,000 - $0) ÷ (15 years)
= $316,666.67
For Asset S
= (Original cost + installation cost - salvage value) ÷ (useful life)
= ($2,000,000 million + $500,000 - $400,000) ÷ (5 years)
= $420,000
As we can see that the Asset S has high annual straight-line depreciation
And, the amount exceed is $103,333.33
Don’t keep food near cleaning liquids
Don’t spray sanitizer near any food items
(May be wrong, don’t hate)
Answer:
Apollo's return on equity is 38.17%
Explanation:
The formula to compute the return on equity is shown below:
Return on equity = Net income ÷ total equity
where,
Net income = $50,000
And, the total equity is
= Common stock + retained earnings
= $10,000 + $121,000
= $131,000
Now put these values to the above formula
So, the value would equal to
= $50,000 ÷ $131,000
= 38.17%
