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3 years ago

Which of the following statements is not correct?

Business

1 answer:

Agata [3.3K]3 years ago

6 0

Answer:

The correct answer is letter "C": Confirmation of cash should only be performed as of the balance statement date because the auditor expresses an opinion as of that date.

Explanation:

Confirmation of cash is an audit procedure in which specialists request the company to get in touch with its banker to verify the organization's balance. The procedure is not based only on the balance statement but according to the transactions the company has carried out regardless of the date.

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A friend wants to borrow money from you. He stated that he will pay you $2500 every 6 months for 7 years with the first payments

scoundrel [369]

Answer:

The value of the payments today is $35.00.

Explanation:

The Value of Payments today is known as the Present Value (PV) and is calculated as follows :

Pmt = - $2,500

P/yr = 2

n = 7 × 2 = 14

Fv = 0

Pv = ?

Using a Financial Calculator, the Present Value (PV) of the payments would be $35.00

4 0

3 years ago

an efficiency wage is a: system of tying wage rates to overall factory efficiency rather than personal productivity. higher wage

krok68 [10]

An efficiency wage is a higher wage paid to reward workers who show greater productivity. Option D is correct.

<h3>What is the Efficiency wage?</h3>

Wages provided to employees over the minimum wage in order to retain a trained and efficient staff are referred to as efficiency wages. Adam Smith defined a type of pay disparity in the 18th century, in which workers in some businesses are paid more than others based on the level of trustworthiness necessary.

Employers establish efficiency salaries above the equilibrium wage rate as an incentive for better employee performance. An efficiency wage is a higher wage provided to employees who are more productive.

Therefore, option D is correct.

Learn more about the efficiency wage, refer to:

brainly.com/question/27960552

#SPJ1

8 0

1 year ago

A current emphasis in supply chain management is to make the process of ordering as simple as possible, often through electronic

Valentin [98]

Answer:

The correct answer is a. quick response and efficient consumer response delivery systems .

Explanation:

Rapid response systems, as the name implies, seeks to simplify the order process by making it as simple and fast as possible. This is of great importance to large store buyers who handle large volumes of inventory and require a quick response on availability and the time it would take for a new order to arrive to fill their shelves. Technology is important in this process because of its ability to generate data instantly, and because the transmission of information is done just a click away.

6 0

3 years ago

Sweat equity, and other methods of reducing the initial cost of getting a company off the ground without resorting to amassing o

vovangra [49]

Answer:hes wrong i just failed a mf test cause of it the right answer is bootstrapping on oddy

Explanation:

3 0

3 years ago

Concord Corporation reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw mate

jek_recluse [69]

Answer:

Concord Corporation's cost of goods manufactured for the year is $2,490,000

Explanation:

For computing the cost of goods manufactured, we have to use the formula which is given below:

= Opening Work in progress inventory + Direct material used + direct labor + manufacturing overhead - ending work in progress inventory

In the given question, the direct material used is not given, so we have to compute it. The formula is given below:

= Opening balance of raw material inventory + Purchase of raw material - ending balance of raw material inventory

= $300,000 + $930,000 - $480,000

= $750,000

And, the other values will remain the same.

So, the answer would be equal to

= $1,080,000 + $750,000 + $870,000 + $690,000 - $900,000

= $2,490,000

Hence, Concord Corporation's cost of goods manufactured for the year is $2,490,000

3 0

3 years ago