Are responsible for verifying accuracy of their organization''s internal records and validating the accounting procedures.

1 answer:

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INTERNAL AUDITORS are responsible for verifying accuracy ..........................
The activities performed by the internal auditors help a company to achieve its goals by employing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control and governance.<span />

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. A business cycle is the a. period of time in which expansion and contraction of economic activity are equal. b. period of time

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Answer:

c. recurring growth and decline in real GDP.

Explanation:

A business cycle is also called a economic cycle or trade cycle, and it is the fluctuation of GDP up and down along its long term growth trend. A business cycle consists of a period of boom and contraction in sequence.

It shows rise and fall in production of goods and services within a country including output from businesses, individuals, households, nonprofits, and government.

There are 4 stages that make up the business cycle that is peak, recession , trough, and expansion.

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3 years ago

Identify which basic principle of accounting is best described in each item below. (a) Norfolk Southern Corporation reports reve

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Answer:

The answers are,

For A. It's the revenue recognition principle in which revenue is recognised when it is earned, now when the cash is realized.

For B. Its the matching concept in which all expenses related with earnings are debited against it to find the profit or loss.

For C. It's full disclosure principle in which all events in material nature has to be disclosed. We can say that going concern effects this as well, as if any event affect the continuity of an entity, it has to be disclosed as well.

For D. It's the historical cost principle in which you account the assets and expenses at the price you paid for them. When the value increases over time, you can reevaluate and adjust it.

Explanation:

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3 years ago

The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before li

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The answers are the following:
a.
Brandon:
$7,000 + [($10,000/4)×3¿= $8,500
Ryan:
$7,000 + [($10,000/4)×1¿= $7,500

b.
Brandon $7,000
Ryan <span>$7,000</span>

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3 years ago

Read 2 more answers

The operational improvement cycle is referred to as the: a. 5S cycle b. FMEA cycle c. DMAIC cycle d. Generate - Integrate - Inte

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Answer:

The operational improvement cycle is referred to as the:

c. DMAIC cycle

Explanation:

The DMAIC cycle involves continuous operational improvement. The 'D' stands for 'to define' the process. The 'M' stands for ' to measure' or quantify the performance process. The 'A' stands for ' to analyze' performance to determine root causes. The 'I' stands for 'to improve; the process. The 'C' stands for control to achieve benefits. These processes are the Sigma Six improvement processes that have been proven to yield improved organizational processes.

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2 years ago

Which of the following best describes the difference between a convertible bond and a warrant? Convertible bonds give the invest

levacccp [35]

Answer: Statement A

Explanation: Convertible bonds is a type of bond security which gives its holder the right to convert each bond to a specified number of shares. These are hybrid securities having features of both equity and debt.

Warrants are securities that give their holder the right to purchase the common shares of the company at a specified price and before a certain time period.

Thus, from the above explanation we can conclude that statement A is correct.

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2 years ago