Based on the different types of compensation and their determination, the following are true:
- Wages - Paid by the Hour - Sarah's direct deposit.
- Commission - A percentage of sales - Lucinda's percentage.
- Salary - Calculated weekly or monthly - Frank's overtime pay.
- Bonuses - For performance - Janet's Low Sales.
- Profit sharing - Based on Co. earnings - Robert's year end reward.
<h3>Types of compensation </h3>
Wages are calculated by the hour and then paid to the relevant employee sometimes in cash or by direct debit. Commissions are a percentage of sales.
Salaries are calculate monthly or weekly and include overtime. Bonuses are based on performance so people who don't perform well don't get much. Profit sharing depends on how much a company makes in a year and are distributed at the end of the year.
Find out more on compensation types at brainly.com/question/6480493.
<span>Mark should make sure the CEOs are aware that Lorraine will be calling them. This will make sure that the CEOs are available to take the interviews. In addition, this will ensure that both sides are aware of the forthcoming correspondence, to make sure that nobody has been left in the dark.</span>
Full question:
Management implements internal controls to ensure that all required footnote disclosures are accurate. Auditors tests those controls to provide evidence supporting the ________ presentation.
A) completeness and valuation
B) completeness and accuracy
C) rights and obligations and existence
D) occurrence and accuracy
<u>Answer:</u>
Auditors tests those controls to provide evidence supporting the completeness and accuracy presentation.
<u>Explanation:</u>
During the interim audit, the internal control system is documented and assessed. The completeness and accuracy of the erudition in the report superimposed which the auditor is relying on. Accuracy simply is inadequate. One requires to obtain certitude about both the completeness and the accuracy.
The statement that all the transactions that should hold been recorded are recorded is named completeness. A transaction is deemed accurate if: There is no fault while developing the supporting document, and there is no failure while posting this transaction.
Answer:
PV = PMT [(1 - (1 / (1 + r)ⁿ)) / r]
Where:
PV = The present value of the annuity
PMT = The amount of each annuity payment
r = The interest rate
n = The number of periods over which payments are to be made
PV = PMT [(1 - (1 / (1 + r)ⁿ)) / r]
= 1000 [(1 - (1 / (1 + 0.0083)²⁴)) / 0.0083]
= 1000 [(1 - (1 / 1.2194)) / 0.0083]
= 1000 [(1 - 0.8201) / 0.0083]
= 1000 [0.1799 / 0.0083]
= 1000 * 21.6747
PV = $ 21,674.70
Explanation:
Since the annuity is compounded monthly
r = 10% / 12 = 0.83%
n = 24
