1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
arlik [135]
3 years ago
7

The FASAB’s Statement of Accounting and Reporting Concepts Statement No. 1 identifies four objectives of federal financial repor

ting. The requirement to be publicly accountable for laws and regulations related to spending tax revenues relates to which of the four objectives?
Business
1 answer:
Dennis_Churaev [7]3 years ago
3 0

Answer:

The correct answer is c) Budgetary integrity.

Explanation:

This principle means that every time a budget is made, all the forecasts for resources and all expenses must be presented in full without any direct compensation between them. An example could be when collecting a tax, which must be presented in a consolidated manner in the budget, that is, the expenses incurred in order to collect it should not be discounted.

You might be interested in
Recording purchases made for cash and on account. LO 8-1 Lewis Corporation engaged in the following transactions during June. DA
vampirchik [111]

Answer:

(A) June 4

Inventory debit 1,065

Accounts Payable credit 1,065

(B) June 15

Inventory debit 1,550

Cash credit 1,550

(C) June 30

Accounts Payable debit 1,065

Cash credit 1,065

Explanation:

(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. <u>No discount is recorded</u>

(B) Simple: increase the inventory receive and decrease cash by the amount paid.

(C) We settle the account payable for the nominal of the purchase.

It wasn't within the discount period. So <u>no discount is granted.</u>

5 0
3 years ago
Jimmy, the marketing manager for an automobile manufacturer, observes frequent conflicts between two of his subordinates, Trent
Alina [70]

it is the person analysis

reason-

a person analysis is the analysis in whch we study the behaviour of the employees it helps us to identify the employees who lacks skills or need training.
8 0
3 years ago
In a Las Vegas casino, an employee discovered a flaw in the accounting system. The accounts payable clerk discovered that he was
kap26 [50]

Answer:

- This type of fraud is check tampering

- It amounts to 20.1% of fraud cases in small businesses, and 8.4% of fraud in large businesses

- This type of fraud can be prevented by rotating employees that handle check issuance to vendors, review of budget versus actual expenditure, monitoring of audit trail to see if beneficiary was changed, daily statement download for reconciliation, and restriction of functions for example a employee that issues checks should not also reconcile bank statement.

Explanation:

Check tampering is a very common fraud that involves changing the beneficiary of a valid check so that funds can be diverted.

In the given scenario the accounts payable clerk was able to change checks to his name in order to divert $10,000. This was only discovered by chance when an employee noticed the change in name.

Various internal control measures can be taken to prevent this and they are listed above

4 0
3 years ago
3 uses of money supply
zalisa [80]

Answer:

Money serves as a medium of exchange, as a store of value, and as a unit of account.

7 0
3 years ago
The price elasticity of demand for a good is likely to be less elastic​ __________.
mariarad [96]

Answer:

if a change in the price of the good brings about a much smaller change in the quantity demanded for the good.

Explanation:

<em>The price elasticity of demand is a measure of the change in the demand for a good in relation to a change in the price of the same good. </em>Mathematically, the price elasticity of demand for a product is represented as:

Price elasticity = change in the quantity demanded/change in price

The value of price elasticity of demand ranges from 0 to infinity. The price elasticity of demand is

  • relatively inelastic when the value is less than 1,
  • unitary elastic when it is equal to 1,
  • relatively elastic when it is greater than 1,
  • perfectly inelastic when it is equal to 0, and
  • perfectly elastic when the value is infinity.

<u>Less elastic price elasticity of demand is equivalent to relatively inelastic price elasticity. This thus means that the price elasticity of demand is less than 1; a percentage change in the price of the good brings about a disproportionately smaller percentage change in the quantity demanded for the good.</u>

4 0
3 years ago
Other questions:
  • When a firm enjoys a competitive advantage, it attracts a significant amount of attention and its products or services can be at
    9·2 answers
  • If an executive or department head practices a laissez-faire approach to management, she is _____.
    11·2 answers
  • Why do Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands?
    9·1 answer
  • An amount of something left over when requirements have been met; an excess of production or supply over demand
    12·1 answer
  • Even though eggs are a significant source of cholesterol, what other information on the nutrition label should tom consider if h
    9·1 answer
  • In an interview with a television channel, the Public Relations manager of KP Oil explained what his company intended to do to t
    8·1 answer
  • Sam wants to grow in his current role, and he decides to take a three-month skill enhancement course.
    14·1 answer
  • You purchased XYZ stock at $50 per share. The stock is currently selling at $80. You expect the stock price to go up, but not 10
    11·1 answer
  • Line Corporation's balance sheet showed the following amounts for their liability and stockholders' equity accounts: Current Lia
    7·1 answer
  • A. Explain why utilitarians might argue that both justice and well-being are intrinsically valuable.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!