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VladimirAG [237]
3 years ago
6

A small private entity may use less formal means to ensure that internal control objectives are achieved. For example, extensive

accounting procedures, sophisticated accounting records, or formal controls are least likely to be needed if
A. Management is closely involved in operations.
B. The entity is involved in complex transactions.
C. The entity is subject to legal or regulatory requirements also found in larger entities.
D. Financial reporting objectives have been established.
Business
1 answer:
Mama L [17]3 years ago
8 0

I need help on this too

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gary, bill and carmella invested in a corporation in the ratio of 2:3:5, respectively. if they divide the profit of $82,000 prop
Hitman42 [59]

Answer:

Each will receive:

Gary: $ 16,400

Bill: $24,600

Carmella: $ 41,000

Explanation:

The profit is shared according to the ratios of their investment as per below calculations:

Gary: $82,000×2/10 = 16,400

Bill: $82,000*3/10 = 24,600

Carmella $82,000 *5/10 = 41,000

8 0
3 years ago
g Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this inf
marysya [2.9K]

Answer:

The answer is ' a profit of $14 million

Explanation:

Revenue = $24 million

Total expenses = $10 million

Profit(loss) = Revenue minus total expenses

$24 million - $10 million

Profit = $14 million.

It is a profit because revenue is greater than total expenses. Adventure Enterprises will report a loss if reported total expenses was greater than reported revenue

6 0
3 years ago
Hawkins Company has owned 10 percent of Larker, Inc., for the past several years. This ownership did not allow Hawkins to have s
Darya [45]

Answer:

There will be no recorded change because the equity method comes into play from the acquisition date

Explanation:

In the event that Hawkins Company purchases or acquires another 30 percent of Larker, Inc. to add to their initial 10 percent holding, there will be no change in the investor report. This is because using the equity method, any investor report only starts taking into effect from the day the acquisition was made. Older statements and reports are not tampered with, as the investor did not have up to 40% of the company at that point  in time.

7 0
2 years ago
Eliminating modification anomalies is a(n) ________ of normalization.Immersive Reader (2 Points) advantage disadvantage either a
noname [10]

Answer:

The correct answer is the first option: Advantage.

Explanation:

To begin with, the name of<em> "Normalization"</em> refers to the process of structuring a relational database alongside with normal forms with the purpose to reduce the amount of data redundancy and increase and improve the amount of data integrity. Most of the cases, the normalization concludes when the relational database meets the third normal form, that is considered to be free of insertion, updated and free of anomalies due to the fact that it deletes them. That is why that the elimination of modificating anomalies is an advantage of normalization.

4 0
3 years ago
Let us suppose that a hospital wants to set their fees for an overnight stay such that the contribution margin on a hospital roo
Rainbow [258]

Answer: $756

Explanation:

Based on the information given in the question, the fee that should be charged to obtain a contribution margin of 18% will be:

Target fee = Variable cost/(1-Contribution Margin)

= $620/(1 - 18%)

= $620/(82%)

= $620/0.82

= $756

They should charge $756

3 0
3 years ago
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