Answer:
“Successful people begin where failures leave off. Never settle for ‘just getting the job done.’ Excel!” —Tom Hopkins
Explanation:
Answer:
Misstatement is referred to as errors in the presentation of financial information that could lead to wrong decision by the users
Explanation:
Occurrence : Issuing of dummy invoices for sales that did not occur
Completeness: Sales invoice were not fully recorded due to omission or misplacement
Authorization: Sales are not approved by the responsible manager. No authorized signature
Accuracy : Casting of sales figure on the register is not correct.
Cutoff : Sales are not recorded in the proper accounting period. January sales being recorded in the previous year account.
Classification : Grants being wrongly recorded as revenue
Presentation : Exaggerated revenue.
Answer: MARIJUANA
Explanation: MARIJUANA has been known to have different names such as Herb,pot,ganja etc. Many countries of the World have placed Ban or strict regulations to control the use of Marijuana.
MacCoun and Reuter were former staff or RAND,they discovered that a one percent Increase in price will lead to a decrease in demand for Marijuana,which means the demand for Marijuana is elastic. They also proposed that a decrease in consumption should be applied in the regulation instead of Banning the usage of a psychostimulants like Marijuana.
Answer:
D. 10.0%
Explanation:
As the bank reqiresd 10% compensating balance the actual amount unrestricted for the loan is 48,000 x (1 - 10%) = 43,200
and from this amount we have to solve for the effective rate:
principal x rate = interest
48,000 x 0.09 = 4,320
now we divide the interest over the actual principal to know the effective rate:
4,320 / 43,200 = 0.10 = 10%
Answer:
No. Account Type Likely account entries
1. Fees Earned , normal balance is credit (b) Credit entries only
2. Utilities Expense , normal balance is debit (a) Debit entries only
3. Accounts Payable , normal balance is credit (c) both debit and credit entries
4. Supplies , normal balance is debit (c) both debit and credit entries
5. Cash , normal balance is debit (c) both debit and credit entries
6. Accounts Receivable , normal balance is debit (c) both debit and credit entries
Explanation:
Accounts that normally have debit entries include assets (both long-term and current), expenses, and losses. Accounts that normally have credit entries are liabilities, equity, revenue, income or gains. Most accounts have debit and credit entries before their normal balances are indicated. The accounts with debit entries are mainly expenses and losses, while revenues and income have mainly credit entries.
