1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your company’s assets are $110
Drupady [299]

Answer:

(a) 1,370,000 shares

(b) 42.19%

Explanation:

Given that,

Shares in a restaurant chain venture = 1,000,000 shares

Price of each share = $1.00

(a) To raise the additional $1,370,000:

Shares will you need to sell:

= Additional amount ÷ Price of each share

= $1,370,000 ÷ $1.00

= 1,370,000 shares

(b) No. of Shares After investment:

= Shares need to sell + Shares in a restaurant chain venture

= 1,370,000 + 1,000,000

= 2,370,000 shares

Therefore, the fraction of the firm will you own after the VC investment:

= (Shares in a restaurant chain venture ÷ No. of Shares After investment) × 100

= (1,000,000 ÷ 2,370,000) × 100

= 0.4219 × 100

= 42.19%

3 0
3 years ago
Knowledge Check 01 Addison Corporation is considering the purchase of equipment that would increase sales revenues by $250,000 p
eduard

Answer:

the simple rate of return on the investment is closest to

15.2%

3 0
3 years ago
Read 2 more answers
An indifference curve shows all the alternative combinations of two consumption goods that... Select one: a. can be produced by
Rainbow [258]

Answer: Option (d) is correct.

Explanation:

An indifference curve is a graphical representation of two goods which reflects all the combination of two goods to be consumed by the individual.

Indifference curves are convex to the origin and two indifference curves never intersect each other.

All the combination of two goods on a single indifference gives equal level of satisfaction and yield the same level of total utility.

5 0
3 years ago
When calculating the net operating income of a property, it is important to identify any expenses that will be incurred in attem
Fantom [35]

Answer:

The correct answer is letter "C": Mortgage payments.

Explanation:

Net Operating Income or NOI reflects income after operating expenses deducted but before income taxes and interest are deducted. If the result is a positive value it is called <em>Net Operating Income</em>. If the figure is negative, it is referred to as <em>Net Operating Loss</em>.

Net operating income is often used to calculate real estate income, such as residential properties or commercial properties. <em>NOI is calculated by determining the Gross Operating Income (Gross potential income minus vacancy and credit loss) and subtracting the operating expenses (maintenance, fees, and insurance). </em>

<em> </em>

Thus, <em>mortgage payments are not considered in the calculation of the NOI.</em>

6 0
3 years ago
A buyer is looking for a multi-family option that includes common area maintenance and will allow him to take advantage of tax i
Deffense [45]

Answer:

If you by a condo, you can deduct your mortgage interests from your gross income, property taxes are also deductible, and you can also get a homestead exemption on your condo since it is your home.

Co-ops on the other hand are corporations that own a building, and you own shares of that corporation. It is very difficult and only under certain circumstances, you can deduct mortgage interest expenses on a co-op, but generally not. You cannot deduct property taxes since you do not own any property yourself and you cannot claim a homestead exemption for a co-op for the same reason.

That is why co-ops are usually cheaper than condos.

3 0
3 years ago
Other questions:
  • Peterson Company's general ledger shows a cash balance of $7,440 on May 31.
    10·1 answer
  • What could you learn in the successful turkey hunting course?
    6·1 answer
  • A sporting goods store is having a large sale event. baseball bats are marked down by 42%, and hockey sticks are marked down by
    7·2 answers
  • 2) The costs of direct materials are classified as: B) C) D) A) Choice A B) Choice B C) Choice C D) Choice D Conversion cost Yes
    14·1 answer
  • A stock is selling today for $40 per share. At the end of the year, it pays a dividend of $2 per share and sells for $44. a. Wha
    11·1 answer
  • All of the following are current strategic issues of particular concern to managers except: a. hiring the right people to apply
    8·2 answers
  • Yield to maturity (YTM) is the rate of return expected from a bond held until its maturity date. However, the YTM equals the exp
    14·1 answer
  • The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July.
    5·1 answer
  • What is demand function what are the factors determine the demand for a goods? ​
    9·1 answer
  • Relationship between technology and technical profession with example
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!