Financial control is the process through which a firm periodically compares its budget to :
<h3>What is meant by financial control?</h3>
The methods, procedures, and techniques used by an organization to monitor and manage the use, allocation, and direction of its financial resources are known as financial controls. Any organization's resource management and operational effectiveness are fundamentally dependent on its financial controls.
Financial controls are laws and practices intended to stop or catch fraud and accounting irregularities. Financial controls include things like double-counting cash deposits and account reconciliation.
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Financial control is a process through which a firm periodically compares its budget to which of the following? (Select all that apply)
Multiple select question.
(A) stock price
(B) revenues
(C) expenses
(D) market share
(E) costs
Banks lend money from saving accounts to people who need loans
Answer: $170,000
Explanation:
According to the historical cost concept, the original cost value of a asset (i.e. land) should be recorded in the books. The original cost refers to the cost of a asset at the time of purchasing. As per the principle of historical cost, assets are always recorded as a original cost or historical cost or acquisition cost.
But when a person sold the asset then he will consider the fair market value.
Nmskkkqkokswkkijnw!!!! Yes
Answer:
B. No, approval by an individual other than the requestor establishes greater accountability over inventory.
Explanation:
This step is required as it will ensure control over inventory usage.
