<span>If you purchase health insurance from a federal- or state-facilitated health insurance marketplace, then you are eligible for a premium tax________? Return Tax return</span>
The general guideline for the segregation of duties is that the following areas should be separated by accounting controls : 1. custody of assets, 2. authorization of transactions, and 3. record-keeping responsibilities.
<h3>Give a brief account on segregation of duties.</h3>
The assignment of distinct steps in a process to different personnel is known as the segregation of duties. By exercising extreme control over a process, the goal is to prevent situations in which someone might steal something or do another fraud. In essence, distinct parties should have physical custody of an asset, record-keeping responsibilities for it, and acquisition and disposal authority.
A key component of a control system is the separation of roles. When evaluating an entity's system of internal controls, auditors will consider duty segregation and will give the system a lower rating if there are any segregation problems.
The auditors will change their methods when there are segregation problems because they will presume that the danger of fraud has increased. This method shift typically entails a rise in audit workload, which is passed on to the customer in the form of higher audit fees.
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Answer:
Higher prices with same sales quantity will mean greater profit.
Explanation:
Let's hold some variables constant. If a business sells books, and they take the prices up, if they sell the same quantity (at higher prices) this would increase revenues. Higher revenues, less the same cost structure (variable and fixed costs) will lead to a greater profit generation. Of course in the real world, price elasticity of demand comes in play when prices are changed. If prices go up, typically sales quantity will decrease and there may be a net effect in revenue and hence profit. In the simple case where prices go up and sales quantity is unaffected, net profit will rise.
Answer:
$9,850,000
Explanation:
Calculation for What is the total cash received on 3/1/17
Total cash received on 3/1/17=$10,000,000 × .97) + ([9%*$10,000,000) × 2/12]
Total cash received on 3/1/17=$10,000,000 × .97) + ($900,000 × 2/12)
Total cash received on 3/1/17=$9,700,000+$150,000
Total cash received on 3/1/17 = $9,850,000
Therefore the total cash received on 3/1/17 is $9,850,000
