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USPshnik [31]
3 years ago
15

Identify the internal control principle that is applicable to each procedure.The following reconciling items are applicable to t

he bank reconciliation for Ellington Company: (1) outstanding checks, (2) bank debit memorandum for service charge, (3) bank credit memorandum for collecting a note for the depositor, and (4) deposits in transit.
Business
1 answer:
4vir4ik [10]3 years ago
5 0

Answer:

B. Items (2) and (3) above will require adjustment on the books of the depositor.

Explanation:

The reconciling items per the books, items (2), and (3) above will require adjustment on the books of the depositor. The other reconciling items (1) and (4) do not require adjustment because they have already been recorded on the depositor's books.

The principles of internal control are the concepts that require management to set procedures in place to ensure company assets are safeguarded. In other words, these are the principles management uses to establish the ways to protect company assets.

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Explain how each of the following transactions generates two entries—a credit and a debit—in the American balance of payments ac
ANEK [815]

Answer:

Explanation:

A. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. - Credit Swiss bank and Debit Capital account as purchase of German Stock

B. An American buys a share of German stock, paying the seller with a check on an American bank. Credit American bank and Debit Capital account as purchase of German Stock

C. The French government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. Credit American bank and Debit Capital account as foreign currency exchange

D. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check. Credit Traveler's check (Current Account) and Debit Currency transfer (payment for service)

E. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. it has no financial implication as its a donation.

F. A U.S.-owned factory in Britain uses local earnings to buy additional machinery. No entry as the transaction has nothing to do with country's asset.

8 0
4 years ago
which region gained the most from the exchanges of ideas and technologies facilitated by the mongol empire?
faust18 [17]

Answer:

Europe

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3 0
3 years ago
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Consider 2 companies, each selling athleticware and each with a focused differentiation strategy. It is NOT possible for both of
Scorpion4ik [409]
It is possible 1 may sell more than the other or may be somewhat equal I would say false because the companies have different strategies they may each do better things than the other in certain aspects. I would say False but I apologize if I am wrong
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4 years ago
Which statement best describes the variety of workplaces commonly found in the Health Science career cluster? A. Workplaces in t
Mars2501 [29]

People who work in Health Science career clusters can expect a career that deals with promoting health to treating diseases. Some examples of professions in this cluster include dietitians, neurologists, and biomedical engineers. With a wide variety of professions that are included in this cluster, the workplaces where these individuals can work are also equally as diverse.

Thus, the best answer for the question is (C) workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices.

8 0
3 years ago
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Artemon [7]

Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.

Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.

3 0
3 years ago
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