Complete Question:
Smith Commercial Development has effective control processes, allowing its managers to discover ______ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Group of answer choices
A. irregularities and errors
B. team problems
C. a potential merger
D. tax breaks
E. competence
Answer:
A. Irregularities and errors.
Explanation:
In this scenario, Smith Commercial Development has effective control processes, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Generally, managers are saddled with the responsibility of controlling various aspects of an organization (business) and as such are required to improve the effectiveness of their control processes. An effective control process ensure that every information at various levels of organization such as bookkeeping (financial statements) are accurate through the use of corrective actions.
Answer:
Mortgage life insurance is necessary if you are a homeowner
Explanation:
Answer:
They identify an enclosed area, beginning and ending at the same point
Explanation:
A prominent constitutional kind of land record in the US, metes-and-bounds classifications are generally related wheresoever survey areas remain unusual in appearance as well as size. The field edges are run out through distances as well as courses, and masterpieces, real rather unnatural, are determined near the angles rather corners.<u> They identify an enclosed area, beginning and ending at the same point</u> that is a distinctive feature of metes and bounds descriptions.
Answer:
a. Accounts Payable: B
b. Cash: B
c. Common stock: B.
d. Account Receivables: B
e. Rent expenses: I
f. Service revenue: I
g. Office supplies: B
h. Dividends: RE
i. Land: B
j. Salaries Expenses: I
Explanation:
a. Accounts Payable: I
It is recorded in the Liability part to showed amount owed to suppliers.
b. Cash: B
It is recorded in the Current Asset part to show amount of cash on hand and in bank.
c. Common stock: B
It is recorded in the Owner Equity part to show Owner's capital contribution
d. Account Receivables: B
It is recorded in the Asset part to show amount owed from customers.
e. Rent expenses: I
It is recorded in the expenses part of income statement.
f. Service revenue: I
It is recorded in the revenue part of income statement.
g. Office supplies: B
It is recorded in the current asset part of the Balance Sheet statement to show how much office supplies is not consumed/ fully consumed.
h. Dividends: RE
It is recorded in the Statement of Retained Earnings to show dividend paid out in the reporting period.
i. Land: B
It is recorded in the Non-current Asset part of the balance sheet to show Book value of land possession.
j. Salaries Expenses: I
It is recorded in the expenses part of income statement.
Answer:
Please see explanation
Explanation:
The following steps are used to estimate cost in high-low method:
Step 1: Take the activity level and cost for
the highest activity level
the lowest activity level
Step 2: The variable cost per unit can be calculated as:
Variable cost per unit=Difference in total cost at two levels/difference in number of units at two levels.
Step 3: Having calculated the variable cost per unit of activity, fixed cost can be calculated by substitution into one of the cost expressions.The difference between the total costs at this activity level and the total variable costs at this activity level is the fixed cost.
Limitations:
High- Low analysis uses just two sets of data i.e. highest value and lowest value for cost estimation. Due to this reason, this analysis can not be used for rough estimation.Since the other methods of cost estimation such as regression analysis calculates a line of best fit for all the available data, it is likely to provide a more reliable estimate than the high low analysis.
