Answer:
The correct answer is: b, c and d.
Explanation:
Internal controls are are policies or processes put in place by the management arm of a company to ensure that the goals set by the firm are achieved both in the long term and short-term. These processes ensure safe custody of assets, reliability in financial information provided or used by the firm, compliance with regulations as well as effectiveness and efficiency in the day to day operations. With this in mind, maximisation of management compensation is not a goal of internal controls. According to COSO, there are 3 main goals of internal controls: to ensure effectiveness and efficiency of operations, reliability of financial reporting and compliance with laws and regulations.
You and your friends often do this sort of thing. This is an example of...generalized reciprocity
Generalized reciprocity :
Generalized reciprocity is the phenomenon that individuals treat others in the same way that others treated them in the past. Besides the behavioral outcomes, whether intention information also manipulates generalized reciprocal behavior remains unclear.
What is an example of generalized reciprocity?
Generalized reciprocity is gift giving without the expectation of an immediate return. For example, if you are shopping with a friend and you buy him a cup of coffee, you may expect him to buy you one in return at some time in the future.
What do anthropologists mean by generalized reciprocity?
Generalized reciprocity refers to a type of exchange of goods and/or services where the giver and the recipient do not keep an exact ledger of value or stipulate the amount or duration of return.
Learn more about Generalized reciprocity :
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Answer:
$17,900
Explanation:
= ($153,000-$5,900-(3070*45))*2
= ($153,000 - $5,900 - $138,150)*2
= ($8,950)*2
= $17,900 - increase in paid-in capital in excess of par
NB - When a company issues bonds, it incurs a long-term liability on which periodic interest payments must be made, usually twice a year.
Answer:
It should be reported in the notes to the financial statements as a noncash transaction
Explanation:
Answer:
Net income will be decreased by $150.
Explanation:
Given:
The credit balance of interest payable (Opening) = $200
Credit balance of interest payable (Closing) = $50
Net income will be decreased by $150.
Decreased net income = credit balance of payable (Opening) - credit balance (Closing)
Decreased net income = $200 - $50
Decreased net income = $150
The interest of $150 was paid which would reduce the net profit.