Answer:
Seperation of duties
Explanation:
Separation of duties also known as segregation of duties is a theory that prevents assigning of responsibility to a single individual for the procurement of assets, their custody, as well as the the associated record keeping. Take for example, one individual can make an order to purchase an asset, but another different individual must be responsible for recording the transaction in the accounting records.
By separating duties, it becomes very hard to carry out fraud, since at least two individuals must work together to do so, which is very likely than if one individual is the one in charge of all parts of an accounting transaction.
Answer:
See below
Explanation
1. Value of inventory sold
= $280 million in inventory + COGS $23,100 million
= $303,100 million
2. Cost of goods sold
From the above passage, we have been given the COGS , which is $23,100 million
3. Compute inventory turns
= Cost of goods sold / Average stock
= $23,100 million / $151,550
=
Answer:
The correct answer is A.
Explanation:
Giving the following information:
The retail value of the inventory is $478,000. The ratio of cost to retail price is 60%. What is the amount of inventory to be reported on the financial statements?
Inventory= 478,000*0.60= $286,800
Invisible hand.
The invisible hand is Adam Smith's theory that markets left on their own will automatically adjust to the production and consumption that most benefits all involved.
Answer:
The price elasticity of demand is -0.25
Explanation:
The demand equation is given by:
Q = 80 - 0.25p
The price elasticity of demand is the same as the rate of change of Q (Quantity demanded) with respect to p (price).
The rate of change of Q with respect to p is obtained by differentiating Q with respect to p
Q = 8 - 0.25p
dQ/dp = -0.25
Therefore, price elasticity of demand = -0.25
