All categories

4 years ago

What are internal controls? Select one:

Business

1 answer:

DIA [1.3K]4 years ago

4 0

Answer:

b. Controls to manage the risk of loss and fraud within a company

Explanation:

Internal controls are the rules and procedures put in place by an organization to protect the integrity and accuracy of its financial records. Internal control promotes employee accountability and reduces the possibility of fraud in the company. They help the company achieve operational efficiency by improving the timeliness and accuracy of accounting information.

Internal controls safeguard company assets by putting in measures that regulate and prevent employees from stealing or committing fraud. The measures comprise of control activities like documentation, separations of duties, authorizations, and reconciliations.

You might be interested in

A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective

LekaFEV [45]

Answer: $29,000

Explanation:

Hello.

Your question was incomplete so I attached a picture showing the missing details.

Cost of Goods sold using First in First Out where the earliest goods are sold first.

Seeing as we have 4,000 units left, that means that none of the stock purchased on the 8th of November have been sold.

1,000 units of the stock purchased on the 18th of June remain.

Cost of Goods sold is therefore,

= 1,000*8 + 3,000 * 7

= $29,000

Cost of goods for Inventory available is $29,000

6 0

3 years ago

For a particular flight from Dulles to SF, USAir uses wide-body jets with a capacity of 430 passengers. It costs the airline $4,

guajiro [1.7K]

Answer:

$370.69

Explanation:

Given the following :

Capacity (n) = 430

Cost incurred by airline per flight = $4000 + $60 per passengers

If ticket price = T ; (430 - 0.58T) are expected to book.

Determine the ticket price, T, that will maximize the airline's profit.

Profit = Revenue earned - cost incurred

Revenue earned = capacity * price = nT

Cost incurred = $4000 + $60n

Profit = nT - (4000 + 60n)

If ticket price = T ; (430 - 0.58T) are expected to book. Then n = (430 - 0.58T)

Profit = (430 - 0.58T)T - ($4000 + 60(430 - 0.58T))

Profit = 430T - 0.58T^2 - ($4000 + 25800 - 34.8)

Profit = 430T - 0.58T^2 - 4000 - 25800 + 34.8

Profit (P) = - 0.58T^2 + 430T −29834.8

Taking the first derivative of P

P' = 2(-0.58T) + 430

P' = - 1.16T + 430

Hence solve for price (T) when P' = 0

0 = - 1.16T + 430

1.16T = 430

T = 430 / 1.16

T = 370.68965

Price = $370.69

6 0

4 years ago

The Hall Corporation had 100,000 shares of common stock outstanding at the beginning of the year. Hall issued 30,000 shares of c

Vladimir [108]

Answer:

weighted average of outstanding shares. 124,000

for diluted EPS: 145,000

Explanation:

beginning 100,000

+ 30,000 x 7/12 (May issued shares)

+ 13,000 x 6/12 (130,000 x 10% stock dividends)

100,000 + 17,500 + 6,500 = 124,000 shares for the weighted average of outstanding shares.

for the diluted earning per share:

each bond can convert to 21 shares, potentially increasing the amount of shares outstanding to:

1,000 x 21 = 21,000 new shares

<u>so for diluted EPS we will use:</u>

124,000 + 21,000 = 145,000

5 0

3 years ago

Which ratio measures the number of dollars of operating cash available to meet each dollar of interest and other fixed charges t

dybincka [34]

Answer:

Fixed-charge coverage ratio

Explanation:

The fixed-charge coverage ratio can be regarded as a rato that gives the measurements of the ability of a firm have to cover all her fixed charges. These fixed charges could be expense as well as debt payments and interest. It displays the wellness that earnings of a company has to cover its fixed expenses. This ratio is considered by bank before they lend money to a business. It should be noted that Fixed-charge coverage ratio measures the number of dollars of operating cash available to meet each dollar of interest and other fixed charges that the firm owes.

3 0

3 years ago

If you felt that recent demand trends were more significant, and thus should be emphasized more in formulating a forecast, then

balu736 [363]

Answer:

False

Explanation:

Forecasting demand is a practice of using historical data about demand to predict likely future demands of certain goods and services.

The simple moving average as the name implies uses the average overall trend in determining the forecasted value.It does not emphasize on recent demand trends.

The conventional weighted moving average emphasizes more on recent demand trend by selecting demands data that are close to the period being forecasted

4 0

3 years ago