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Tatiana [17]
3 years ago
6

Internal controls that should be applied when a business takes a physical count of inventory should include all of the following

except: Multiple Choice a) Prenumbered inventory tickets. b) A manager confirms that all inventories are ticketed only once. c) Counters confirm the validity of inventory existence, amounts, and quality. d) Second counts by a different counter. e) Counters of inventory should be those who are responsible for the inventory.
Business
1 answer:
irina1246 [14]3 years ago
8 0

Answer:

e) Counters of inventory should be those who are responsible for the inventory.

Explanation:

Having different people do the physical counting of inventory guarantees the integrity of the count. The staff in charge of inventory are probably aware of any variances as they conduct regular checks. Having different people count eliminates the possibility of number manipulation by the staff responsible for the stock.

Before a stock count, all operations should be halted. Items received during the stock count should be separated and not counted. There should be a document giving instructions to staff to ensure consistency.

As a measure of internal control, all stocks should be identified with a numbered tag. The supervisor should ensure proper tagging has been done. Where possible, counters will be organized in teams of two so that each item goes through two counts. Assign groups to count items which are not in their direct responsibility. Should there be a variance, a separate team should be allowed to counter check.

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Answer:

The correct word for the blank space is: Revised Model Business Corporation Act.

Explanation:

The United States corporate laws are regulated by the Model Business Corporation Act (MBCA). The Act was born as a need for disambiguation of liabilities incurred by corporations where it was not clear if owners were personally liable for debts of the organization. Nowadays, the Revised Model Business Corporation Act (RMBCA) rules that concept and adopted some other features to bring clarity when it comes to corporate obligations.

8 0
3 years ago
Harris Co. is considering a 12-year project that is estimated to cost $900,000 and has no residual value. Harris seeks to earn a
masha68 [24]

Answer:

annual income = $70,292.52

Explanation:

initial outlay $900,000

in order to determine the net cash flows per year we can use the present value of an ordinary annuity:

PV = annual cash flow x annuity factor

  • PV = $900,000
  • annuity factor, 15%, 12 years = 6.1944

annual cash flow = $900,000 / 6.1944 = $145,292.52

annual cash flow = [(revenue - operating costs - depreciation) x (1 - tax rate)] + depreciation

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  • tax rate = 0?
  • depreciation = $900,000 / 12 = $75,000

$145,292.52 = annual income + $75,000

annual income = $145,292.52 - $75,000 = $70,292.52

3 0
3 years ago
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Answer:

c) wasteful rent-seeking

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Rent-seeking is an economic activity that does not add any value, and it often includes lobbying and spending resources of your own company. This is a common practice when companies cannot find another feasible revenue stream, so they manipulate the distribution of various resources to gain wealth. This way, no value is created.

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Hi there!

Investors who put their own money into a startup are known as angel investors. Also, they are usually family or friends but don't have to be.

The closest answer to angel investors is C. Angels.

I hope that helps u! :)

3 0
3 years ago
Read 2 more answers
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