Answer:
they provide convenient receipts for purchases
Explanation:
Checks payment is a form of paying bills. They were created to allow people to make payments without carrying large amounts of cash hence convenient for purchases.They are also are safer than other forms of payment as they are traceable; when a transaction occurs and payment is made by checks, banks usually make copies of each check and the owner remains with an underlying copy from the check book.
Answer:
(a) 4.2% (b) 0.52
Explanation:
Solution
The sale of total assets = 1.4
Return on assets and PAT/assets= 6%
ROE PAT/Equity =9%
(a)Profit margin/PAT/Sales is defined as follows:
profit margin = ROA/(Sales/Total assets)= 6%/1.4 = 0.42 = 4.2%
(b) ROE=profit margin X*Sales/Assets X (Assets/Equity)
= Assets/Equity=9%/ =(4.2%*1.4)
9% (0.058)
= 0.005292 = 0.52
Equity/assets 0.52
Debt assets=1- equity/assets
0.52
Answer:
information search
Explanation:
This would occur in the information search stage of the consumer decision-making process. In this stage the consumer is basically trying to do as much research as possible so they get the best possible product for their needs, this also includes trying to find out about the possible problems that the specific models might have so that they do not get ripped off when making a final decision about which product to buy.
Answer: $18000
Explanation:
We should note that the value of the contributed assets would be based on the fair values.
With regards to the question, we are already informed that the land was sold for $18,000 which in this case is the fair value of the asset.
Therefore, the amount that should be recorded in Cobb's capital account on formation of the partnership would be $18000.
Answer:
C. Observation of the counting of inventory.
Explanation:
Risk assessment procedures involve all the steps that represent the evaluation of procedures which are company specific and not individual item specific.
These assessments are done in order to ensure the accounting procedures are fair that are followed by the company.
Thus, the observation of counting of inventory is substantative in nature and not investigating like, risk assessment test.
All other steps mentioned are part of risk assessment procedure.