Answer:
The correct answer is that Mark's opportunity cost of holding cash is higher
Explanation:
Opportunity cost is nothing but the value of the next best alternative that a person has given up , when that person had the choice of selecting between any number of options. You will not find this cost to be shown in your financial statements or balance sheets but this cost is very important in telling which option is the best to use or more profitable for a person or company.
In this question the reason why Mark uses ATM more frequently is because for him the opportunity cost for him in holding more money in hand is high as compared to the Jim whose opportunity cost of holding more money in hand is less , which means he is not not going to miss out on much of the opportunity. The reason why the opportunity cost is high for Mark is because of high rate of interest in his country , if Mark holds more money in hand then the amount of money he is going to lose on interest that he would have gained by keeping the money in bank will be high which means his opportunity cost of holding money is high.
Answer:
Random sampling. ...
Simple random sampling. ...
Systematic sampling. ...
Stratified sampling. ...
Cluster sampling. ...
Answer:
c. External audit.
Explanation:
These are options for the question
a.
Internal audit.
b.
Financial audit.
c.
External audit.
d.
Integrated audit
External audit in finance in finance is usually carried out by an external auditor to examine financial statement of an organization. It helps to know
the economic actions going on in the organization and how accurate is the financial statement.
It should be noted that External auditor that carry this out should be from another organization different from the company that the auditing is carried out in.
Answer:
Explanation:
Bank reconciliation
Bank cash balance 7,338
Add: Deposit in transit 2,810
Less: Outstanding check 690
Adjusted cash balance 9,458
Cash balance per books 7,374
Add: Electronic bank transfer received by bank 2,126
Less: Bank service charges 42
Adjusted cash balance 9,458
Dr Cash 2,126
Cr Accounts receivable 2,126
Dr Bank service charges expense
Cr Cash 42
