Answer:
The original records (Option C) is the only option that gives evidence that the event has occurred. Lets assume you own a car, now how will you prove that you own the car. Of course you will show the ownership papers to tell relevant authority that you own this car. Likewise in the company, their is huge flow of data. The events occurring are recorded in the accounting system but their evidences are kept in the file. According to the International Standard on Auditing ISA 500, the evidence is must be reliable. This means the original records are always reliable because they are confirmations from the parties that are independent of the company's operations.
The Consumer Products Division's residual income in May is $1,300
<h3>What is residual income?</h3>
Residual income is the amount of money an individual or business has remaining after paying all expenses.
Given that:
Net operating income
= $81,300
Average operating assets
= $800,000
Minimum required return
= Average operating assets * Rate of return
= $800,000 * 10%
= $80,000
Residual income
= Net operating income - Minimum required return
= $81,300 - $80,000
= $1,300
Hence, the Consumer Products Division's residual income in May is $1,300
Learn more about residual income here: brainly.com/question/22985922
#SPJ1
False. A paper file name can easily be rewritten. A computer file name can easily be right clicked then renamed by hitting the rename option.
a good written goal for developing a system is B
