True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.
The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.
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Answer:
In a static storage area each product is assigned a specific area, whereas in dynamic storage, product locations and fluid and as such are subject to change.
Answer:
a. Revenue recognition principle
Explanation:
The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting
It is not recorded when the cash is actually received.
When the sale is made, the same is to be shown in the books of accounts
Therefore as per the GAAP, the revenue should be addressed by revenue recognition
hence, the correct option is a.
Answer:
$405,000
Explanation:
The computation of the ending inventory reported is shown below:
Inventory on December 31,2018 $325,000
Add: Goods purchased from a vendor i.e shipping point $30,000
Add: Goods sold FOB destination to customer $38,000
Add: consignment by Brecht Inc $12,000
Ending inventory reported $405,000
In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer
