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kaheart [24]
4 years ago
12

Q 7.28: A multi-location flower shop receives payment from customers in person, over the Internet, and through the mail. When ch

ecks come in the mail, the mail clerks send the checks to the cashier’s department and a list of checks to the accounting department. What is the primary reason the company engages in this practice?
Business
1 answer:
Lapatulllka [165]4 years ago
5 0

Answer:

The reason for such practice is to ensure the chance for perpetrating fraud is eliminated.

Explanation:

The cash internal control set by the company is to ensure that cash of the business is not stolen,since cash receipt is a high fraud area,every attempt must be made at ensuring that accurate cash is accounted by segregating the duty for cash collection and cash receipt recording.

In smaller firms,a representative of the team handing cash and the accounting department would have to be present when mails containing cash are to be opened such that one counts and the other takes appropriate record of the cash received.

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Ordonez Lumber Yard has a current accounts receivable balance of $442,016. Credit sales for the year just ended were $9,358,610.
shutvik [7]

Answer:

Receivables turnover= Sales/ Accounts Receivables

Receivables turnover= $9,358,610 / $442,016

Receivables turnover= 21.173 times

Days' sales in receivables= 365 days/ Receivables turnover

Days' sales in receivables= 365 days/ 21.173 times

Days' sales in receivables= 17.239 days

Average collection period= Days' sales in receivables = 17.239 days

8 0
3 years ago
the average amount of time between price changes for gasoline is multiple choice two to three months. two to three weeks. two to
melamori03 [73]

In most case, the average amount of time between price changes for gasoline is <u>two to three weeks</u>.

<h3>What is a price changes?</h3>

Most time, a price changes often come about because of changes in the conditions of demand and supply. A gasoline prices tend to always increase when the available supply of gasoline decreases relative to real or expected gasoline demand or consumption.

Some factors that change the price of gasoline are:

  • Crude oil prices
  • Refining costs
  • Taxes
  • Distribution
  • marketing costs.

Read more about price changes

brainly.com/question/3896666

#SPJ1

8 0
2 years ago
Creating policies for health and safety is part of which risk management strategy?
ivolga24 [154]
It can be C because it's accepting the risk to do it

But it can also be B because it's sharing the risk with everyone else
8 0
3 years ago
he Lo Company earned $2.60 per share and paid a dividend of $1.30 per share in the year just ended. Earnings and dividends per s
hichkok12 [17]

Answer:

The value of the stock is $19.50

Explanation:

Hi, let´s check out the formula that we need to use in order to find the price of this stock.

Price=\frac{Do(1+g)}{r-g}

Where:

Do= last dividend (in our case, $1.30)

g = growth rate of the dividend (in our case, 5% or 0.05)

r = required rate of return (in our case, 12% or 0.12)

Everything should look like this:

Price=\frac{1.30(1+0.05)}{0.12-0.05} =19.50

Therefore, the value of this stock is $19.50

Best of luck.

4 0
4 years ago
The invisible-hand concept suggests that.
stealth61 [152]
When firms maximize their profits, society's output will also be maximized is the concept of the 'invisible hand.' This was first introduced by Adam Smith in the mid 1700's.
6 0
4 years ago
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