The main thing which superior performance allows a firm to do is:
- reinvest some of its profits in gaining more resources and thus grow.
<h3>What is Business Strategy?</h3>
This refers to the creation and maintenance of competitive advantage of a particular market against other competitors which gives a particular business an edge in the market.
With this n mind, we are told that successful business strategies generate value and then if they are able to leverage on this, then they can reinvest the profits.
Read more about business strategies here:
brainly.com/question/25686320
Answer:
1. False
The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.
2. False
It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.
3. True
If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.
As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.
4. False
Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.
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Answer: The depreciation expense that will be recorded for the furniture for the year ended, December 31 is $1,365.
Explanation: The formula for straight-line depreciation method is given below:
(Historical cost minus salvage value) / No of years
- Historical cost is the original purchase price
- Salvage value is the disposable value of the asset
If you put in the information in the question into the formula, you have:
($31,000 - $3,700) / 5 years = $5,460 yearly depreciation
We need to get the depreciation expense as at December 31. This means the yearly depreciation above has to be pro rated for 3 months, as follows:
$5,460 x 3/12 = $1,365.
Entries to be recorded would be Debit Depreciation expense $1,365; Credit Accumulated depreciation $1,365. In most cases, organizations record depreciation expense on a monthly basis.
The answer is B Hope that this helps-
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