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iVinArrow [24]
3 years ago
15

Check My Work (1 remaining) Fraud detection is an important element of minimizing losses from fraud, and it is important that fr

auds be detected as early as possible. Early detection is important because, in most cases, losses are greater at the beginning of a fraud and decrease significantly over time. a. True b. False
Business
1 answer:
Alexandra [31]3 years ago
4 0
<h2>True. The early detection of fraud avoids greater loss.</h2>

Explanation:

The early detection of fraud needs to be done for the following reason:

  • Fraud will continue if not found earlier and thus leads to greater loss
  • The fraud team is not widen before huge loss happens
  • Easy to recover
  • Possibility of finding the loop holes even if it is from external sources
  • Detects weakness in the internal control and eradicate and make the system secure
  • Avoid huge loss and threats
  • To gain profits
  • To keep up the name of the organization
  • To bring business and to retain customers

You might be interested in
Sales $920,000 Variable expenses $388,000 Fixed manufacturing expenses $370,000 Fixed selling and administrative expenses $250,0
Lelechka [254]

Answer:

The company would have a greater net operating income of $339,000 if the product H58S were dropped.

Explanation:

The net operating income can be expressed as;

a). If product H58S is not dropped

Net operating income=income from sales-Total expenses

where;

Income from sales=$920,000

Total expenses=Net fixed expenses+variable expenses

Fixed expenses=Fixed manufacturing expenses+Fixed selling and administrative expenses=(370,000+250,000)=$620,000

Variable expenses=$388,000

Total expenses=(620,000+388,000)

Total expenses=$1,008,000

Net operating income=(920,000-1,008,000)=-$88,000

b). If product H58S is dropped

Income from sales=$920,000

Total expenses=Net fixed expenses+variable expenses

Fixed expenses=Fixed manufacturing expenses+Fixed selling and administrative expenses=(370,000+250,000)=$620,000

Net fixed expenses=(620,000)-(233,000+194,000)

Net fixed expenses=$193,000

Variable expenses=$388,000

Total expenses=193,000+388,000= $581,000

Replacing;

Net operating income=(920,000-581,000)

Net operating income=$339,000

The company would have a greater net operating income of $339,000 if the product H58S were dropped.

7 0
2 years ago
What advice or tips does Lauren Haugen have for people who are learning to manage their finances?
Nesterboy [21]

Answer: Save back for if something urgent happens. Put saving in one account and seperate that from your weekly paychecks because saving and paychecks need to be divided apart so you can live on your weekly income and take a little bit out of the main income and put it in the savings due to inflation it is becoming harder to do such a thing

Explanation: Great!

7 0
2 years ago
Explain how each of the following transactions generates two entries—a credit and a debit—in the American balance of payments ac
ANEK [815]

Answer:

Explanation:

A. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. - Credit Swiss bank and Debit Capital account as purchase of German Stock

B. An American buys a share of German stock, paying the seller with a check on an American bank. Credit American bank and Debit Capital account as purchase of German Stock

C. The French government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. Credit American bank and Debit Capital account as foreign currency exchange

D. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check. Credit Traveler's check (Current Account) and Debit Currency transfer (payment for service)

E. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. it has no financial implication as its a donation.

F. A U.S.-owned factory in Britain uses local earnings to buy additional machinery. No entry as the transaction has nothing to do with country's asset.

8 0
3 years ago
Financial accounting primarily provides information to which group of decision makers?
Anastaziya [24]

Answer:

A) investors

Explanation:

The main aim of financial accounting to provide information to the investors( existing and would-be) about the performance and position of the business at a particular point in time.

Performance relates to net income earned while the position is about the net assets of the company which is an offshoot of all the assets owned and liabilities(obligations) owed to other parties

4 0
3 years ago
Based on the corporate valuation model, the total corporate value of Chen Lin Inc. is $500 million. Its balance sheet shows $110
solmaris [256]

Answer:

The best estimate of its stock price per share is $11.20

Explanation:

To compute stock price per share, the equation is shown below:

= Total number of equity ÷ Outstanding number of shares

where,

Total number of equity = Total corporate value - Notes payable - long term debt - preferred stock

= $500 - $110 - $90 - $20

= $280 million

And , outstanding number of shares is 25 million shares

Now, apply the above equation

So, stock price per share = $280 million ÷ 25 million shares = $11.20

Other accounts like retained earnings, total common equity is irrelevant

Hence, the best estimate of its stock price per share is $11.20

6 0
3 years ago
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