Answer:
d.guarantee the company will earn a profit
Explanation:
Internal controls are controls put in place by management to mitigate against identified risk. Risk basically refers to what could go wring in a process. Controls are put in place to mitigate against the risk of error or fraud and do not necessarily prevent the company from making a loss.
Companies make profit or loss based on management's decisions such as where to invest, what time to invest, introduction of a new product, management of cost of sales and operating expenses etc
Internal controls basically consist of policies and procedures that ensure that the company's asset are not misused (fraud), no misrepresentation of revenue (fraud), employees and managers comply with laws and regulations, business information is accurate ( no misrepresentation of records due to error) etc.
Hence Internal control does not consist of policies and procedures that guarantee the company will earn a profit.
The right option is d.
Answer:
Shoe Leather Cost
Explanation:
The effort and time spent to eliminate the effect of the inflation is known as Shoe leather cost.
In this scenario, the company is bearing inflation every second and depositing the amount in the bank by sending the employees four times a day with interest rate that is higher than the inflation will help in reducing the cost of the money held in till. So such efforts and time spent to control inflation is Shoe leather cost. Here the costs, time and effort are sending the employee four times a day to deposit money in the bank.
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<h3>a) = 25% × $350,000 ÷ 100</h3><h3> = <u>$87,500</u></h3><h3 /><h3 /><h3>b) = $350,000 - $87,500</h3><h3> = <u>$262,500</u></h3>
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Answer:
<h3>Also known as business operations managers or business directors, business administrators are involved in monitoring day-to-day business operations, interacting with external partners, improving business and employee performance, negotiating contracts, and analyzing financial data.</h3>
Answer:
$2,397
Explanation:
Straight line method charges a fixed amount of depreciation
Depreciation Charge = (Cost - Residual Value) ÷ Estimated useful life
therefore,
<u>Annual depreciation charge</u>
2019
Depreciation Charge = $1,428
2020
Depreciation Charge = $1,428
2021
Depreciation Charge = ($8,160 - $1,428 - $1,428 - $510) ÷ 2
= $2,397
therefore,
Depreciation expense, 2021 is $2,397
