Answer:
All of these answer choices are correct
Explanation:
All of the answer choices are correct in relation to an internal control procedure used to safeguard a company's assets
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<u>1.Timely deposits of cash receipts into a checking account </u>
Daily deposits of all cash receipts to produce a timely independent record of the cash received. <u>It also reduces the likelihood of cash theft and the risk that an employee could personally use the money</u> before depositing it.
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<u>2.Separation of duties </u>
Generally in business and accounting, segregation of duties serves two key purposes. These purposes include <u>assurance that you are able to review and catch errors easily if there is an oversight and it also prevents theft and fraud.</u>
<u>3.Reconciliation of the bank statement </u>
Reconciliation is a fundamental accounting process that ensures the actual money spent matches the money leaving an account at the end of a period. <u>This is important for businesses to inspect fraudulent activity and to prevent financial statement errors.
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Answer:
The percent of students who take exactly three courses =
31.67%
Explanation:
a) Data and Computations:
# of Courses Frequency Relative Frequency Cumulative Frequency
1 22 0.3667 22
2 19 0.3167 41
3 19 0.3167 60
Number of part-time students surveyed = 60
Students who take 1 course = 22/60 * 100 = 36.67%
The cumulative frequency for 1 course is 22 students.
The frequency of student who take 2 courses = 19(41 - 22)
Therefore, the frequency of students taking 3 courses = 19 (60 - 41) and
the relative frequency of students who take 3 course = 19/60 * 100 = 31.67%.
Answer:
Date Account and Explanation Debit Credit
Bonds payable $476,000
Loss on bond redemption $7,140
(461,720 - 454,580)
Cash $461,720
(476,000 * 0.97)
Discount on bonds payable $21,420
(476,000 - 454,580)
<em>(To record redemption of the bonds)</em>
Answer:
Other customers of the firm who place buy orders, if the firm has information barriers in place.
Explanation:
FINRA has strict rules against front running, and this is the process by which interested parties place orders for shares beforehand because they have insider information on how a share is going to perform in the future.
This rule is binding on any registered representative.
However if the firm has information barriers in place, any other customers that places a buy order will be assumed not to have insider knowledge of the share's expected performance. The FINRA rule is not binding on them.
In a way both can be correct but if seen in public then It is True.
