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Rainbow [258]
3 years ago
14

Which of the following fraudulent activities most likely could be perpetrated due to the lack of effective internal controls in

the revenue cycle?A. Merchandise received is not promptly reconciled to the outstanding purchase order file.B. Obsolete items included in inventory balances are rarely reduced to the lower of cost or market value.C. The write-off of receivables by personnel who receive cash permits the misappropriation of cash.D. Fictitious transactions are recorded that cause an understatement of revenue and overstatement of receivables.
Business
1 answer:
Alex17521 [72]3 years ago
8 0

Answer:

C. The write-off of receivables by personnel who receive cash permits the misappropriation of cash.

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Theresa owes %249%2C000 on her car loan. If the value of her car is %2415%2C000%2C what is her equity in the car%3F
ololo11 [35]

Answer:

The answer is "\$6,000".

Explanation:

Please find the complete question in the attached file.

We take her automobile value (\$15,000) to reach this result and reduce it (\$15,000 - \$9,000). That's a \$6,000 equity, that's why Theresa has a capital of\$6,000.

8 0
3 years ago
Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $47,8
Gre4nikov [31]

Answer:

$15,450

Explanation:

The computation of the common fixed expenses is shown below:

We know that,

Net operating income = Contribution margin + Sales × contribution margin -  traceable fixed expenses - common fixed expenses

$35,700 = $47,800 + $235,000 × 25% - $55,400  - common fixed expenses

$35,700 = $47,800 + $58,750 - $55,400  - common fixed expenses

$35,700= $47,800 + 3,350   - common fixed expenses

So, the common fixed expense would be $15,450

8 0
3 years ago
Prepare the December 31 adjusting entries for the following transactions with JE explanations. 1. Fees accrued but not billed, $
disa [49]

Answer:

Adjusting Entries

    Date                 Description                         Debit       Credit

1.  December 31    Fees Revenue                  $6,300

                             Account Receivable                        $6300

2. December 31    Supplies Expense            $3,790

                             Supplies Inventory                          $3,790

3. December 31    Wages Expense               $2,700

                             Wages Payable                               $2,700

4. December 31    Depreciation Expense     $1,650

                             Accumulated Depreciation             $1,650

   December 31    Rent Expense                   $10,800

                             Prepaid Rent                                    $10,800

Explanation:

Supplies Expense = $4,750 - $960 = $3,790

Rent expired term is considered as there is a prepaid rent balance of $10,800

3 0
3 years ago
Risk factors A. can be biological, psychological, or social. B. are best conceptualized as being mostly biological.
pashok25 [27]

Answer:

The correct answer is letter "A": can be biological, psychological, or social.

Explanation:

Risk factors can determine future outcomes and most likely are negatives. Those outcomes are the results of biological, psychological and social influences. On the other hand, protective factors are characteristics that lower the possibility that the outcome will be negative. Both risk and protective outcomes do not change over time.

5 0
3 years ago
Barney decides to quit his job as a corporate accountant (which pays $10,000 a month) and go into business for himself as a cert
Dmitry_Shevchenko [17]

Answer:

a. $125

b. $10,300

c. $10,425

Explanation:

a. The computation of the explicit cost is shown below:

Explicit cost = Purchase of office supplies + Monthly electricity bill

                    = $75 + $50

                    = $125

b. The computation of the implicit cost is shown below:

Implicit cost = Lost of salary + rent out amount lost

                    = $10,000 + $300

                    = $10,300

c. The computation of the cost is shown below:

Economic cost = Explicit cost + Implicit cost

                         = $125 + $10,300

                         = $10,425

8 0
3 years ago
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