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3 years ago

Which of the following is one of the three standard sections of a governmental comprehensive annual financial report?

Business

1 answer:

HACTEHA [7]3 years ago

7 0

Answer:

a) Statistical.

Explanation:

The three standard sections of a governmental comprehensive annual financial report are:

Introductory
Financial: includes financial statements and notes
Statistical: include statistical data about relevant financial information and trends, and how they relate to government activities

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Internal control does not consist of policies and procedures that

kotegsom [21]

Answer:

d.guarantee the company will earn a profit

Explanation:

Internal controls are controls put in place by management to mitigate against identified risk. Risk basically refers to what could go wring in a process. Controls are put in place to mitigate against the risk of error or fraud and do not necessarily prevent the company from making a loss.

Companies make profit or loss based on management's decisions such as where to invest, what time to invest, introduction of a new product, management of cost of sales and operating expenses etc

Internal controls basically consist of policies and procedures that ensure that the company's asset are not misused (fraud), no misrepresentation of revenue (fraud), employees and managers comply with laws and regulations, business information is accurate ( no misrepresentation of records due to error) etc.

Hence Internal control does not consist of policies and procedures that guarantee the company will earn a profit.

The right option is d.

4 0

3 years ago

Give the journal entry (FOR FULL CREDIT ALWAYS GIVE JOURNAL ENTRIES IN PROPER FORM: see Hints/FAQ tab for guidelines) when a bui

Digiron [165]

The journal entry of a building being purchased will be, a debit in the building account by $60,000; and the cash account and payables account will be credited by $20,000 and $40,000 respectively.

<h3>What is a Journal Entry?</h3>

A method of recording the monetary transactions of a business firm throughout a financial period, in such a way that effects of the same are reflected in the financial statements, is known as recording of journal entries.

Hence, the effect of the journal entry has been given above, and an image is also provided for better understanding of the concept for the readers.

Learn more about journal entry here:
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2 years ago

If the MPC in an economy is 0.8, government could close a recessionary expenditure gap of $100 billion by cutting taxes by

QveST [7]

Answer:

cutting taxes by $125 billion

Explanation:

given data

economy = 0.8

expenditure gap = $100 billion

to find out

cutting taxes

solution

we get here cutting or reduce taxes that is express as

cutting taxes = $\frac{expenditure\ gap}{MPN\ economy}$ ......................... 1

cutting taxes = $\frac{100}{0.8}$

solve we get cutting taxes

cutting taxes = $125 billion

so cutting taxes by $125 billion

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3 years ago

Over the last four decades: A. Non-tariff barriers (NTB's)and tariffs have both increased in importance and use B. NTB's and tar

tino4ka555 [31]

Answer:

C. NTB's have increased and tariffs have decreased in importance and use

Explanation:

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3 years ago

Regardless of which order you created your sales views for rocker (wholesale first and direct second, or vice versa), when creat

anygoal [31]

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3 years ago