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lys-0071 [83]
4 years ago
5

The following is a description of an internal control. DESCRIPTION: The compensation committee reviews compensation plans for se

nior executives to ensure that both monetary and equity-based pay totals are consistent with contracts approved by the board of directors. Required: Indicate which of the COSO internal control components is best represented by each internal control. a. Information and Communication b. Control Environment c. Monitoring d. Risk Assessment e. Control Activities
Business
1 answer:
guapka [62]4 years ago
3 0

Answer:

Option E. Control Activities

Explanation:

Control activities is a part of Control environment and in the given scenario, the company has a system of policies and procedures implemented to ensure whether the approved activities are carried out or not. This includes the segregation of duties, as the Compensation Committee is assigned the task to reviewing whether the payments that were made to the senior executives, both cash and equity based payments, are consistent with their contracts or not. Furthermore if it is not complied by the contract then relevant actions are carried out. So these are best represented by control activities.

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Heller Company offers an unconditional return policy to its customers. During the current period, the company records total sale
Evgen [1.6K]

Answer:

A. $816,000

Explanation:

The formula to compute the net sales is shown below:

= Total sales - sales returned

where,

Sales returned = Total sales × sales return percentage

                        = $850,000 × 4%

                        = $34,000

And, the total sales is $850,000

Now put these values to the above formula  

So, the value would equal to

= $850,000 - $34,000

= $816,000

5 0
3 years ago
Suppose your friend’s employer will contribute to the account each year as part of the company’s profit sharing plan. In additio
Butoxors [25]

Answer:

$6618 annual payment

Explanation:

Employer's annual contribution = $1500 until trust fund distribution

trust fund distribution = $25000

years to trust fund distribution = 20 years

To calculate the amount she must deposit to make up the amount ( future required amount ) she will pay the difference between the required value and the contribution from her employer + trust fund distribution

future value = 1500 FVIFA(8%,30) + 2500 FVIFA( 8%,10)

                      = 169924( 1500*113.28) + 53973 = 223897

therefore the required total of what she should deposit = 973633 - 223897 = 749735

the amount she must deposit annually is calculated as

749735 ( total payment ) = annuity * FVIFA(8%,30 )

ANNUITY =  749735 / 113.28

                = $6618

NOTE : FVIFA (8%,30) and FVIFA( 8%,10) values are gotten from the FVIFA table

8 0
3 years ago
We are planning a reception for our daughter. The hall that we are renting charges a $95 cleanup fee. In addition to the cleanup
ololo11 [35]

Answer:

<em>We can invite at most 80 people without going over our budget.</em>

Explanation:

The available budget is $ 2,100.

As a fixed amount we must pay $ 95 for the cleaning service. After making this payment we would be available $ 2,100 - $ 95 = $ 2,005 to cover the food and drink expenses of the guests. Since for each guest they charge us $ 25, we can invite a maximum of 80 guests ($ 2,005 / $ 25 = 80.2). Considering that we will invite 80 people, the total cost of the event will be $ 95 + 80. $ 25 = $ 2,095, that is, we will finally have $ 5 left over.

4 0
4 years ago
Who would you consider society's stakeholders.
lina2011 [118]
I would consider society stakeholders because their aim is to maximize positive impacts and minimize negative ones
5 0
3 years ago
What does it mean to "diversity" your portfolio?<br> NGPF
mestny [16]

Answer:

It's about to have multiples sources of income. For that, you required to invest in niche business. If one business fail, maybe another be sucesfully.

Explanation:

3 0
3 years ago
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