Answer:
Three sources of financing to a business includes;
1) Angels (National Angel Capital Organization, NACO)
Wealthy and experienced retired industry leaders, that invest in startups, require transparency, and take charge of the supervision of the business management practices
2) Business Accelerator or Incubators (MaRS; MaRS Discovery District)
An incubator provide enabling environment and resources for startups to develop ideas before going into production
3) Bank Loans (Business Development Bank of Canada, BDC)
Bank provide loans to startup with a good idea and an accompanying excellent business plan, and personal guarantee
Explanation:
Answer:
Statement is true
Explanation:
Internal control over financial reporting was designed to give assurance related to financial statements preparation and authenticity of financial reporting.
Material weakness refers to inefficiency in internal control which could lead to misstatement in financial statement thereby making financial reporting unreliable. As such, even one material weakness would prove ineffective internal control over financial reporting.
Answer:
B) = $38.44
Explanation:
<em>Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers. Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.</em>
Activity rate is calculated as:
<em>Activity cost for the period / Total cost drivers for the period</em>
<u><em>Activity rate for supporting customers:</em></u>
<em>The appropriate cost driver to allocate supporting customer activity is the number of customers as given. This is so because it is most likely that the number of customers served will be a major factor that influences the supporting customers activity costs. </em>
<u><em>Activity rate for supporting customers </em></u>
= Supporting customers overhead/total number of customers
= $34,600/(600+300)
= $38.44
Answer:
C. Debt to Income Ratio
Explanation:
The debt to income ratio (DTI)provides a picture of the level of debts of a borrower. The DTI is usually expressed as a percentage of gross income. A high debt to income ratio indicates a person spends a high percentage of income on paying debts.
Lenders use the debt to income ratio to assess a borrower's ability to repay debts. Individuals with low DTI are preferred to those with a high one.
