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natulia [17]
2 years ago
10

The objectives of internal control are to a.provide reasonable assurance that assets are safeguarded and used for business purpo

ses, business information is accurate, and laws and regulations are complied with b.control the internal organization of the accounting department personnel and equipment
Business
1 answer:
jeka57 [31]2 years ago
3 0

Answer:

The correct answer is A

Explanation:

Internal control is the control which comprise of everything that controls the risk for the organization. At the level of organizational, the objectives or goals of internal control relate to the reliability of financial reporting, compliance with the regulations as well as laws and timely feedback on accomplishment of operational goals.

The goals of the internal control are:

Safeguard the assets of business

Promote the operational efficiency.

Ensure reliability as well as integrity of the accounting information as well as data.

Ensure adherence to the policies as well as procedures of management.

Therefore, from the above options, the goal is to provide assurance that assets are safeguarded and used for business purpose.

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LO 5.2What is the cost of direct labor if the conversion costs are $330,000 and manufacturing overhead is $275,000?
zhenek [66]

Answer:

cost of direct labor =  $55,000

so correct option is A. $55,000

Explanation:

given data

conversion costs = $330,000

manufacturing overhead =  $275,000

to find out

cost of direct labor

solution

we get here cost of direct labor that is express as

cost of direct labor = Conversion costs - manufacturing overhead   ..............1

put here value we will get here

cost of direct labor = $330,000 - $275,000

cost of direct labor =  $55,000

so correct option is A. $55,000

7 0
2 years ago
The importance of financial managers to firms with large cash inflows is greater than for firms with smaller cash flows. true fa
julsineya [31]
FALSE. It is not greater then firms with smaller cash flows.
6 0
3 years ago
Which property classification would include tools?
Nady [450]
The answer is durable. According to AR 735-5 (Policies and Procedures for Property Accountability), a durable property is a property that is not consumed in use, does not require property book accountability, but because of its unique characteristics requires control when issued to the user. The best example for this is hand tools.  Hand tools are measured durable because they are not used up by Soldier unlike cleaning supplies. Hand tools are not on the property book. They do require a signature when issued, whether from the tool room or the supply room. When hand tools break, they must be turned in for replacements. Soldiers who misplace hand tools pay for the lost tools in order to implement supply discipline. We must have supply discipline to save Army resources for deployments, training exercises and other mission requirements. Leaders involve periodic inventories and the correct hand receipt procedures for the same reason. Hand tools are costly and Soldiers use millions of them. So, hand tools are durable because they do not get used up, unlike consumable supplies such as hand soap or motor oil, and also require some type of control when issued.
8 0
3 years ago
Read 2 more answers
Which of the following is not an form of money that was traded
Semmy [17]

Answer:

(D) because you cannot sell shells.

8 0
1 year ago
You run a school in Florida. Fixed monthly cost is $5,835.00 for rent and utilities, $5,906.00 is spent in salaries and $1,061.0
olga55 [171]

Answer: 1.621

Explanation:

The old charge per student was $678 per month

The new charge is $1,099.

The percent of the new charge compared to the old according to the question methodology is:

= New charge per student / old charge per student

= 1,099/678

= 1.621

3 0
3 years ago
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