Answer:
The letter D. Assumption of the risk.
Explanation:
I believe the Best-of-the-Rest company is reliable for the quality of the products it produces and resells. Trading food is very dangerous because it needs a very close surveillance by the owner and supervision. A part of a mouse ear at the bottom of the can may have been overlooked in the packaging. Alternatively, it may have been posed by someone with bad intentions to undermine the company's credibility. Everything is possible.
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.
Answer:
$104,000
Explanation:
The computation is shown below:
= Bribe cost per each housing inspector × number of weeks in a year × number of newly built structures each week
= $1,000 × 52 weeks × 2
= $104,000
We simply multiply the three components i.e Bribe cost per each housing inspector, number of weeks in a year, and the number of newly built structures each week so that the accurate value can come.
Simple interest produces interest only over the initial amount.
So every year the interest will be $1000 * 5 / 100 = $50.
That is, after 3 years 3 * $50 = $ 150.
Simple interest does not take into account the reduction of the principal but calculates the interest over the same initial amount, in this case $1000.
So, the answer is $150, which is the result of $50 times 3.
