Internal controls shield your business from fraud, theft, and mistakes. Effective internal controls preserve your assets, cut down on loss, and maintain the accuracy of your financial reporting, among other traits.
Internal control is a procedure implemented by a company's management, board of directors, and other staff members and is intended to give reasonable assurance that the information is accurate, timely, and reliable. of adherence to relevant laws, rules, agreements, policies, and procedures.
Internal control is a procedure for ensuring that an organization's objectives in operational effectiveness and efficiency, accurate financial reporting, and compliance with laws, rules, and policies are met, according to the definitions of accounting and auditing.
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<span>Ans : $ 5158. First, let us compare the Present Value of the investment with the PV of the future cash flows, discounted at 12%. The PV of 1,600, N 1, R 12%, is 1,429. The PV of 2,000, N 2, is 1,594, and the PV of 3,000, N 3, is 2,135. That's a total of 5,158.</span>
Answer:
Direct material used= $88,600
Explanation:
Giving the following information:
Beginning raw materials inventory$12,000
Raw materials purchase 88,000
Ending raw materials inventory 11,400
<u>To calculate the direct material used in production, we need to use the following formula:</u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 12,000 + 88,000 - 11,400
Direct material used= $88,600
<span>Business incubators are a time honored tradition and have been around since the early 1700s.
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Ans: its true
