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marishachu [46]
3 years ago
6

A bank reconciliation:Group of answer choicesis a formal financial statementboth A and B are correctis part of a sound internal

control systemshould not be prepared by an employee who handles cash transactions
Business
1 answer:
Anna [14]3 years ago
3 0

The Correct question reads;

Which of the following statements about bank reconciliations is correct?

a. Should not be prepared by an employee who handles cash transactions

b. Is part of a sound internal control system

c. Is a formal financial statement

d. Both (a) and (b) are correct

Answer:

<u>a. Should not be prepared by an employee who handles cash transactions</u>

<u>Explanation:</u>

It is only a bank that prepares a bank reconciliation statement. So, it is correct to say that a bank reconciliation statement should not be prepared by an employee who handles cash transactions.

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Suppose the mean income of firms in the industry for a year is 75 million dollars with a standard deviation of 17 million dollar
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Answer and Explanation:

Given:

μ = 75 million

SD = 17 million

Probability (x) raw data = 110 million

Computation:

= Probability (x) < 110 million

= Probability [(x-μ) / SD] < [(110 - 75) / 17]

[(x-μ) / SD] = Z

= Probability [z] < [(35) / 17]

= Probability [z] < [2.05882353]

Using z calculator:

P-value from Z-Table:  

Z score = 0.98024

Therefore, probability is 0.98024

4 0
3 years ago
Sterling Company paid $1,200 for 3 months of rent on April 1 of the current year. On April 30, Sterling Company made an adjustin
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Explanation:

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2 years ago
Which of these is NOT one of the five ethical principles the GAO's Yellow Book stresses?
Anni [7]

Answer:

The correct answer is d. The proper safeguarding of client information.

Explanation:

According to chapter 3 of the GAO Yellow Book, the following are the ethical principles:

  1. The public Interest
  2. Integrity
  3. Objectivity
  4. The proper use of government information, resources, and position.
  5. Professional behavior.

Proper protection of customer information is not an ethical principle in this book, but it should be a factor to consider in the information manipulation process.

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3 years ago
Fred's Paper Shop frequently buys paper from Online Office Supplies, Inc. Online Office Supplies and Fred's Paper Shop decide to
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Answer:

likelihood that disputes will arise under their contract is reduced.

Explanation:

One of the advantages of entering into a partnering agreement is that the likelihood that disputes will arise under their contract is reduced. This is mainly due to the fact that the agreed upon contract contains all the rules and regulations that both entities have agreed to follow. Therefore if there is any difference in decision the contract can be brought up and must be followed.

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Which are employed by a service firm and assigned to work at a business or an organization
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Answer: Leased employee

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Leased employee are employed by a service firm and assigned to work at a business or an organization.

They are contractual employee and paid on the basis of what is deemed in contract.

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