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padilas [110]
3 years ago
15

Internal control systems are:________.

Business
2 answers:
lakkis [162]3 years ago
4 0

Answer: Internal control system are required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company).

Explanation:

Internal controls are the procedures mechanisms and rules implemented by a business to ensure the integrity of its accounting and financial information, promote accountability, and also prevent fraud.

Besides complying with regulations and law and hindering employees from commiting fraud or stealing assets, internal controls can improve operational efficiency through the improvement in the timeliness and accuracy of financial reporting.

Internal controls are a vital business function for every company in the United States since the accounting scandals that occurred in the early 2000s. The Sarbanes Act of 2002 was to improve accuracy of corporate disclosures and protect investors from fraudulent activities.

Luda [366]3 years ago
4 0

Answer:

The answer is A.

Explanation:

Internal control systems are required by Sarbanes-Oxley (SOX) to be documented and licensed if the company's stock is traded on an exchange (a public company).

Internal control system consists of 5 key elements:

Control environment t

Risk assessment

Control activities

Information and communication

Monitoring

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We associate the term debt finance with a. the bond market, and we associate the term equity finance with the stock market. b. t
Vedmedyk [2.9K]

Answer: Option A  

     

Explanation: In simple words, debt financing refers to a process under which an organisation borrows money from other parties without giving any share in the ownership rights.

These finances are usually gathered by selling bonds bills and notes to the general public. Whereas, equity finance sells its ownership rights and raise money from it.

Hence from the above we can conclude that the correct option is A.

6 0
3 years ago
Which of the following is true about business-to-business (B2B) transactions? For most people, the B2B market is visible and ove
schepotkina [342]

Answer:

B2B e-commerce is larger than B2C e-commerce.

Explanation:

B2B commerce include all the transactions that being done between a business institution and another busines institution. B2C commerce include all the transactions between business institutions and the people.

When we count all value traded in world's commerce, the amount of B2C way surpassed B2B commerce.

But, if we observe e-commerce alone (transaction that being done through internet) , B2B commerce is larger than B2C e-commerce. In united States, B2B e-commerce that occurred in the market worth around $1.1 trillion, while B2C e-commerce only worth around $480 million.

5 0
3 years ago
Natalie promises Brett that she will pay him $1,000 for painting her house. Brett then agrees and purchases the painting materia
erma4kov [3.2K]

Answer:

Yes

Explanation:

There was an agreement or promise between Brett and Natalie which made Brett purchase the materials with his own money

3 0
3 years ago
Read 2 more answers
You will receive annual payments of $800 at the end of each year for 12 years. The first payment will be received in Year 3. Wha
Aneli [31]

Answer:

Option (d) $5,549.96

Explanation:

Data provided in the question:

Annual payments = $800

Time, n = 12 years

Discount rate, r = 7% = 0.07

Now,

PV2 = Annual payments × ((1 - (1 + r)⁻ⁿ)) ÷ r ) × (1 + r)

=  $800 × ( (1 - ( 1 + 0.07)¹²)) ÷ 0.07) × (1 + 0.07)

PV2 = $6,354.15

Therefore,

Present value today = PV2 ÷ (1 + r )²

= $6,354.15 ÷ (1 + .07)²

or

= $5,549.96

Hence,

Option (d) $5,549.96

3 0
3 years ago
Youns Inc. reported the following results from last year’s operations: Sales $ 10,500,000 Variable expenses 6,610,000 Contributi
shusha [124]

Answer:

Combined turnover = $13,300,000.

Explanation:

The combined turnover is the sum  of the turnover for last year and the turnover after the investment opportunity is taken.

Combined turnover = turnover last year + turnover from the new investment opportunity.

=  10,500,000 + 2,800,000

= $13,300,000

7 0
3 years ago
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