The process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is called risk assessment.
An entity refers to someone or enterprise owning separate and wonderful prison rights, inclusive of an individual, partnership, or organization. An entity can, amongst different things, personal assets, engage in enterprise, enter into contracts, pay taxes, sue, and be sued.
The entity name is the call used by an enterprise to enter into contracts and make other criminal or administrative commitments. alternatively, the business name is the name your commercial enterprise operates under and shares with its clients, customers, and employees.
That which has a wonderful life as an individual unit. often used for businesses that have no physical shape. An existent something that has the houses of being actual, and having an actual lifestyle.
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Answer:
19.64%
Explanation:
The return on equity shall be determined through following mentioned formula:
Return on equity=Net profit/Equity
In the given question
Net profit=9.68%*$807,200=$78,136.96
Equity=Assets-Total Debt
=$1,105,100-64%($1,105,100)
=$397,836
Return on Equity=$78,136.96/$397,836
=19.64%
In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one-year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is to Send a bank confirmation as of year-end.
A business may additionally have sales in a given time period that includes invoices they have got sent out to customers, in addition to coins bills that have been made at the time of a buy. All of these incomes are included as revenue during that term.
Sales are described as the profits generated through a commercial enterprise' number one operations. Its miles are often known as the “pinnacle line” and are proven at the top of an earnings announcement. internet income is an accounting time period that refers to the entire revenue minus the entire costs for any given length.
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Answer:
0.4868%
$615.47
Explanation:
Given that
a. EAR = 6%
Thus,
Equivalent monthly rate = (1 + r)^n - 1
Where r = EAR
Therefore
= (1 + 0.06)^1/12 - 1
= 1.0048675 - 1
= 0.0048675 × 100
= 0.4868%
b. Given that
Monthly rate = 0.4868%
Future value = 100,000
Time = 10 years
Recall that
FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)
Where
C = payment
Therefore
100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)
C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)
C = $615.47 per month
