The True statement about internal controls is <em>B. A system of internal controls is designed to prevent or detect errors and fraud.</em>
- Internal Controls are the techniques that an entity institutes to ensure the integrity of financial and accounting information, promote accountability of its employees, and prevent fraudulent activities.
- Strong internal controls can still be circumvented. Internal controls are not limited to company policies and procedures against fraud. The employment of a husband and wife or close relations in the same company is not prohibited by control procedures or separation of duties.
Thus, the true statement about internal controls is B.
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Answer:
False
Explanation:
In a business report, the conclusions section explains what all the collected information means and summarizes the most important parts of the report.
While the recommendations section actually presents a list of suggestions and/or specific actions that should be taken.
Answer:
Adjusted balance of Insurance Expense A/c = $2,800
Explanation:
There is some insurance expense already charged amounting $2,620
Further out of prepaid insurance the expense for the period = $2,800
This shall also be charged to expense as relates to current period.
Therefore, total expense for the period shall be $2,620 + $2,800
For this, entry will be:
Insurance expense A/c Dr. $2,800
To Prepaid Insurance A/c $2,800
Therefore, net adjusted balance of insurance expense = $2,620 + $2,800 = $5,420
Answer: (C) Collect relevant information
Explanation:
According to the given question, the Pennington superstore is one of the women fashion store which is specialized in the Plus- size and based on the given statement it basically reflect the relevant information marketing research process.
The process of collecting the relevant information about the specific topic helps in analyzing the necessary data about the company on the basis of the customer requirement.
According to the given question, the process of reflecting about the relevant marketing research information is to collect the relevant data or information on the specific concept.
Therefore, Option (C) is correct answer.
The framers were insecure, and they doubted the public's ability to be politically capable and make good choices. They were concerned if the public would be able to come up with good political judgments.
A framer refers to a person, group, or organization that creates or frames laws, rules, plans, and systems of an institution. In the given sentence, the question is about the framers of political laws.
The public is sometimes swayed by the masses and also the media. They do not have the power to analyze and see the truth behind the politics of the rulers. Thus, it might be possible that the public might be swayed by some rulers and fail to make an unbiased judgment.
That is why the framers were concerned about the public's capacity to make good decisions.
To learn more about framers,
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