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alisha [4.7K]
3 years ago
5

Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed in which of the following situ

ations?
A) Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.
B) Activities in a customer's account involve a cashier's check in the amount of $3,000 and cash transactions in the account of $8,000.
C) Activities in a customer's account involve a personal check in the amount of $1,500 and cash transactions in the account of $7,000.
D) In one transaction, a customer performs a cash transaction totaling over $9,000.
Business
1 answer:
oksian1 [2.3K]3 years ago
3 0

Answer: A -  Throughout the course of the trading day, an investor performs several cash transactions in his account which total $12,000.

Explanation: Currency Transaction Reports mandated by Anti-Money Laundering rules require a report to be filed when any of the below stated transactions occur in an account.

1. If the daily aggregate cash transactions of an individual exceeds $10,000

2. if 2 different transactions within a 12 months period seems related and their aggregate exceeds $10,000 must be reported.

3. Any suspicious customers action that suggest that they are laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud, or mysterious disappearances should be reported

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On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of th
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Answer:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Explanation:

The journal entry is shown below:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Since sale is made so we debited the cash it increased the assets plus there is service charge expense so the same is also debited as it increased the expenses and at the same time the merchandise is sold so it would be credited as it increased the revenue

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3 years ago
Which of the following theories argues that organizations try to minimize their reliance on other organizations for the supply o
aleksklad [387]

Answer: The answer is C.

Explanation: The Resource dependence theory is based on the principle that organizations, must engage in transactions with other organizations in their environment in order to acquire the resources needed for their daily operations.

Although such transactions may be advantageous, they may also create dependencies that are not, and so organization A may want to rely less on organization B, in their quest to influence the environment to make resources available.

This theory actually originated in the 1970s with the publication of The External Control of Organizations: A Resource Dependence Perspective by Jeffrey Pfeffer and Gerald R. Salancik.

The theory is based on the idea that resources are vital for organisational success and that access and control over resources forms the basis of power.

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Risk acceptance defines the quantity and nature of risk that organizations are willing to accept as they evaluate the trade-offs
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Answer:

Tolerance

Explanation:

Risk tolerance: It is defined as level of risk that an organization is willing to take for completing any specific task. Evaluating the risk in the trade off between perfect security and unlimited accessibility as risk of security breach is still there instead of perfect security as there is unlimited accessibility, however, how much risk can be tolerated or accepted need to be evaluated and can be mitigated.

There are different technique been used to minimize the risk factors are:

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3 years ago
How can communicators show respect and communicate effectively and positively with people in other cultures?
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<u>Answer:</u>

<em>C. By allowing members of the other culture to understand your role within their culture </em>

<u>Explanation:</u>

  • <em>Look to get it. </em>
  • <em>Try not to make assumptions. </em>
  • <em>Keep a receptive outlook. </em>
  • <em>Evade generalizations. </em>
  • <em>Start with who you know. </em>
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  • <em>Get involved. </em>
  • <em>Keep your statement.  </em>
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This is the way communicators show regard and impart successfully and decidedly with individuals in different societies, By enabling individuals from the other <em>culture to comprehend your job</em> inside their way of life.

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3 years ago
If a stock split occurred, when calculating the current year's EPS, the shares are treated as issued:A. At the end of the year.B
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Answer:

Correct answer is (C)

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At the beginning of the year.

Earnings per share (EPS) is the portion of profit earned by the company that is allocated to each outstanding share of its common stock. It is determined by taking the difference between a company's net income and dividends paid for preferred stock and then divided by the average number of shares outstanding. So if stock split occurred when calculating the current year EPS, the shares are treated as issued at the beginning of the year.

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