Answer: Substitute
Explanation:
Substitute goods are the goods that can be used for the same purpose. Complement are the goods that are used together e.g. car and petrol.
It should be noted that when the price of a good increase, people move to the substitute and this will being about the rise in the quantity demanded of the other good.
Therefore, as the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units shows that the are substitutes.
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Answer:
1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.
2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.
3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.
In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.
<h3>What is cash in a bank in accounting?</h3>
- Cash in Bank refers to the current balance in checking or savings accounts or other accounts of a similar nature held in the name of the company or business requesting the certificate. Do not include amounts from personal bank accounts or retirement accounts.
- Every month, the bank will normally send the account holder an official bank statement that lists all of the transactions that occurred on the account that month. Account information can be found on bank statements, including account numbers and a thorough list of deposits and withdrawals.
- There are three different forms of accounting transactions based on the exchange of money: cash transactions, non-cash transactions, and credit transactions.
In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.
To learn more about bank accounts, refer to:
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