Answer:
The correct answer is b. an implied contract.
Explanation:
The theory of implicit contracts refers to the fact that the relationship between employers and workers is governed, in addition to the "explicit" legal contracts signed between the two, by a multitude of tacit commitments established during the understanding between the two parties. Implied contracts are unwritten agreements and informal rules that companies have with their workers, and that, in many cases, are justified in the commitment to wage stability. In this theory, companies set wages within a broad and long-term strategy or stability of the employment relationship.
That would be a "media plan"
Answer:
The firm paid $630000 dividends in 2019
Explanation:
Retained earnings is the amount of net income that is not distributed to stockholders and is ploughed back into the business. It is a capital reserve account and appears in the equity section of the Balance Sheet. To determine the amount of Dividends, we will trace the change in Retained earnings and deduct the increase in retained earnings amount from the Net Income to arrive at dividends for the year.
Increase in Retained earnings = 4000000 - 3700000 = $300000
Thus, out of the Net Income of $930000 earned in 2019, $300000 was transferred to retained earnings. The remaining was paid as dividends.
The dividends in 2019 are = 930000 - 300000 = $630000
Answer:
Its action would be optimal given an ordering cost of $28.31 per order
Explanation:
According to the given data we have the following:
economic order quantity, EOQ= 55 units
annual demand, D=235
holding cost per one unit per year, H=40%×$11=$4.4
ordering cost, S=?
In order to calculate the ordering cost we would have to use the following formula:
EOQ=√(<u>2×D×S)</u>
(H)
Hence, S=<u>(EOQ)∧2×H</u>
2×D
S=<u>(55)∧2×4.4</u>
2×235
S=<u>13,310</u>
470
S=$28.31
Its action would be optimal given an ordering cost of $28.31 per order
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
