For a small business, a good way to prevent or detect fraud is<u> B. Owner involvement</u> in the business.
<h3>What is a small business?</h3>
A small business can be defined as a privately owned corporation, partnership, or sole proprietorship with fewer employees and less annual revenue than a large business.
Five types of small businesses have been identified as follows:
- Sole proprietorship
- Partnership
- Corporation
- S Corporation
- Limited liability company.
Given the employment and revenue profiles of small businesses, they may not afford to detect or prevent fraud by the segregation of duties as required by internal controls.
Hiring CPA Auditors and trusted employees only cannot help small businesses prevent or detect fraud.
Thus, the best way for a small business to prevent or detect fraud is by the involvement of the owner in the business.
Learn more about small businesses and internal controls at brainly.com/question/14473430
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Answer:
budget software
spreadsheet
Mint©
Mvelopes®
Explanation:
The spreadsheet is also the same as Excel. It used to organize and analyze expenses and identify how your expenses can be reduced
Mint© is an online expensive tracking device, that can be used to track credit score and manage expenses.
Budget software is budgeting and expensive tracking device. It can be used to track credits cards and bank account
Mvelopes® is an online expensive tracking device that is used in taking care of the budget.
Answer: C. A decrease to assets for $45,000.
Explanation:
When shareholders redeem their stock, the company pays them for the redeemed stock at a certain price which in this case is $45.
The total cost of redemption is therefore:
= 45 * 1,000
= $45,000
The company uses cash to pay for this which is an asset. Assets will therefore reduce by $45,000 which is the amount of cash paid.
Answer:
a. Increase in accounts payable
Identification: O+
b. Payment of dividends
Identification: F-
c. Decrease in accrued liabilities
Identification: O-
d. Issuance of common stock
Identification: F+
e. Gain on sale of building
Identification: O-
f. Loss on sale of land
Identification: O+
g. Depreciation expense
Identification: O+
h. Increase in inventory
Identification: O-
i. Decrease in accounts receivable
Identification: O+
j. Purchase of equipment
Identification: I-
They can begin by implementing an enterprise resource planning system. They may also focus on corporate social responsibility. Implementing a balanced scorecard approach and using activity based costing are also methods that this company can use to bring down their costs.