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2 years ago

The difference between errors in the financial statemetns as compared to fraud is

1 answer:

4 0

Hello there!

There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.

But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.

Both of these kind of acts are seriously two major different things, they have nothing in common.

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Saxon Manufacturing is considering purchasing two machines. Each machine costs $9,000 and will produce cash flows as follows. Sa

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Here's link $^{}$ to the answer:

bit. $^{}$ ly/3gVQKw3

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2 years ago

Faiz would like to illustrate the commission savings delivered by a payment app compared with a credit card. He decides to use a

yulyashka [42]

Full question(find attached) :

Faiz would like to illustrate the commission savings delivered by a payment app compared with a credit card. He decides to use a company that has a monthly sales volume of $50,000 delivered over 100 equal transactions.

From the information available, what is the difference between the payment app with the lowest charge, compared with a credit card charge?

A) $575

B) $1200

C) $1050

D) $480

E) $1237

Answer and Explanation:

Credit card processing firms charge an average of 3.5% and a flat fee of about 20 cents so we would make our comparison on this basis:

Since Faiz decides to use a company that has a monthly sales volume of $50,000 delivered over 100 equal transactions

The customer would pay $50000/100= $500 per instalment

Given the information I'm the table from question Instant wallet charges 3.5% +$0.20 for transactions lower than $1500

= 0.035*$500+$0.20=17.5+0.20=$17.7

An average credit card processing firms would charge :

0.035*500+$0.35=17.5+0.35= $17.85

Therefore instant wallet is cheaper and would save a customer =$17.85-17.7= $0.15

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2 years ago

Suppose that Bobo purchases 1 pizza per month when the price is $19 and 3 pizzas per month when the price is $15. What is the pr

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Bobo's demand curve is elastic hence his purchasing ability is easily influenced by a slight change in the price of the product

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2 years ago

Wang Company began operations on January 1, 2018, by issuing common stock for $70,000 cash. During 2018, Wang received $88,000 c

posledela

Answer:

Wang Company

Statement of financial position

Equity and liabilities

Issued share capital $70,000

Retained earnings $45,000

115,000

Assets

Non-Current assets

Fixed assets $22,000

Current assets

Cash in hand $93,000

$115,000

Wang company

Income statement

Net sales $88,000

Cost of sales $38,000

Gross margin $50,000

Less:admin expenses $5,000

Net Profit $45,0000

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2 years ago

How do entrepreneurs contribute to nation economically

Finger [1]

Entrepreneurs help the nation by creating new and unique businesses (which can increase profit and employment), they add to national income, and they create social change.

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3 years ago