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3 years ago

Payment by check is an important internal control over cash payments because

1 answer:

8 0

Payment by check is preferred over payment by cash because first it eliminates the interaction of people that will lead to some unwanted doings such as corruption. payment by check is also safer because you can just cash the money later and deposit right after

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The McMillan Development Corporation is in the preliminary stages of building a commercial office development. They have receive

solong [7]

Answer:

D. Both B and C

Explanation:

Based on the information provided within the question it can be said that you must go to The Building Codes and Building Officials Conference of America. This is where every company must go in order receive the guidelines of the materials that are approved by the government for all development procedures including construction, electrical wiring etc.

4 0

3 years ago

interest cost (the increase in pension costs due to the passage of time), the expected return on plan assets (the amount that ma

marishachu [46]

Answer:

The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.

However, this change will not affect the net income, as all the items will still be accounted for, accordingly.

Explanation:

GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations. The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs. By this separation, the operating income of GM will increase.

3 0

2 years ago

Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place.The following data

kramer

Answer:

a. The working capital is $625,000

b. The current ratio is 2.82

c. The quick ratio is 2.08

Explanation:

In order to calculate the working capital first we need to calculate the Current Assets and the Current Liablities as follows:

Current Assets = Cash + Accounts receivable + Inventory + Prepaid Expenses + Temporary investments

= 154,000+210,000+240,000+15,000+350,000

=$969,000

Current Liablities = Accounts payble + Accrued liablities + Income tax payable + Notes payable,short term

= 245000+4000+10000+85000

=$344,000

a. Therefore, working capital = Current Assets - Current liabilities

= 969000 - 344000

= $625,000

b. To calculate the current ratio we have to use the following formula:

current ratio = Current Assets / Current liabilities

=969,000 /344,000

= 2.82

c. To calculate the quick ratio we have to use the following formula:

quick ratio = (Cash + Accounts receivable + Temporary investments ) / Current liabilities

= (154,000+210,000+350,000) / 344,000

= 2.08

7 0

3 years ago

Foreign exchange ________ earn a profit by a bid-ask spread on currencies they purchase and sell. Foreign exchange ________, on

eimsori [14]

Answer:

Dealers, Brokers

Explanation:

8 0

3 years ago

Hutton Industries wants to hire an intermediary to help with the distribution of its products. Management needs an intermediary

Dmitrij [34]

Answer: (B) Manufacturer agent

Explanation:

A manufacturer agent is refers to the independent sales agent in an organization.

The responsibility of a manufacturer agent is that it is an intermediary an organization as it helps in the product distribution process.

It mainly control all the promotional and the proving decision of the products in an organization and also represent organization as the seller. According to the given question, the company should hire the manufacturer agent.

Therefore, Option (B) is correct.

3 0

3 years ago