Answer:
Option E. Control Activities
Explanation:
Control activities is a part of Control environment and in the given scenario, the company has a system of policies and procedures implemented to ensure whether the approved activities are carried out or not. This includes the segregation of duties, as the Compensation Committee is assigned the task to reviewing whether the payments that were made to the senior executives, both cash and equity based payments, are consistent with their contracts or not. Furthermore if it is not complied by the contract then relevant actions are carried out. So these are best represented by control activities.
The government has antitrust laws, which increase competition and offer patents which decrease competition.
Answer:
C. Debit Buildings; Credit Notes Payable.
Explanation:
The journal entry to record the given transaction is shown below:
Building A/c Dr XXXXX
To Notes Payable A/c XXXXX
(Being the building is purchased)
Since the building is purchased which increases the value of the asset so the building account is debited and the payment is done by borrowing amount from the bank i.e note payable so this account would be credited
Answer: a. are examples of government-created monopolies.
Explanation:
Patents, copyrights and trademarks are given by a government to a company to protect its products from being produced by other companies without permission which means that only the company with this government protection can produce the goods in question.
This therefore makes the company producing the goods a monopoly and one that was created via government actions.
The leadership is still important in today’s flatter, team-based organizations to make sure that the team members are working on the right track. The organization has a vision and a mission to achieve in order to reach its goal. The team leader assures that every team members understand and remember this vision and mission.