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2 years ago

The most important fundamental component of an entity's internal control is:

Business

1 answer:

rosijanka [135]2 years ago

6 0

Answer:

b) People who operate and function within the control system.

Explanation:

Internal controls are the process and mechanisms that an organization puts in place to ensure the integrity of its accounting and financial information. Internal control helps a business achieve operational efficiency and effectiveness. It ensures that a company financial reporting complies with the relevant laws, policies, and regulations.

The people working in internal control determines whether the mechanisms will succeed or fail. Employees assigned in internal control must be of high integrity and be able to discharge their duties without fear or favor. Internal control protects company resources from theft, wastage, or misuse. For internal control to achieve its purpose, the Individuals in that department must not comprise in any situation.

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A firm engages in a new type of financial transaction that has a material effect on its earnings. An analyst should most likely

slega [8]

Answer:

management has not explained its business purpose

Explanation:

Since in the question it is mentioned that the firm is engaged in the new financial transaction that contains the material impact on the earnings so this represents that it could be come under the pre existed accounting standards.

Also everyone should be aware of the business purpose plus it is not established for changing off the financial statements

So it would be suspicious because the purpose of the business could not be explained

4 0

3 years ago

An individual has been making periodic premium payments on an annuity. The annuity income payments are scheduled to begin after

3241004551 [841]

Answer: Deferred

Explanation:

The deffered is one of the type of annuity that helps in making the various types of insurance related contracts for the purpose of long time savings.

A deferred annuity is one of the type of contract where they pay some amount of their profit to the owner on the regular basis and it also used by various types of investors for profit purpose.

According to the question, the deffered annuity is making the various types of periodic payments that helps in scheduling the annuity after one year. Therefore, Deferred is the correct answer.

5 0

2 years ago

When participants in one treatment condition have characteristics that are different from the characteristics of participants i

maw [93]

Answer:Internal validity

Explanation: Internal validity is a term used in research to describe how well experiments or researches are done, it is usually used to shows whether it avoids confounding, The less chance for confounding in a study, the higher its internal validity.

Internal validity tends to show the soundness of an experiment or research, it also shows how many Confounding variables you have in your experiment or research.

4 0

3 years ago

Assume that you are a consultant to Lotte Inc., and you have been provided with the following data: D1 = $0.67; P0 = $27.50; and

Eduardwww [97]

The cost of equity from retained earnings based on the DCF approach=9.44%

Explanation:

The cost of equity from retained earnings based on the DCF approach can be calculated as follows,

For D1 = $0.67

For P0 = $27.50

For g = 7.00%

Therefore, rs = $\frac{D1}{PO}$ + g

The answer is =9.44%

8 0

2 years ago

When demand for a product changes because of its price, this product is said to be elastic.

IgorC [24]

Answer:

When PED is greater than one, demand is elastic. This can be interpreted as consumers being very sensitive to changes in price: a 1% increase in price will lead to a drop in quantity demanded of more than 1%. When PED is less than one, demand is inelastic.

so it is true

Explanation:

4 0

3 years ago

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