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4 years ago

Which element of internal accounting controls is concerned with the overall culture of a business?

Business

2 answers:

monitta4 years ago

7 0

Answer:

The answer is the control environment.

Control environment is the set of Norms, rules and procedures within the organization. This is like the foundation of the organization and it's functions. And the sustainable and constructive nature of the Organizational culture depends on the quality and the integrity of the control environment.

Explanation:

Artyom0805 [142]4 years ago

6 0

The element of internal accounting controls known as control environment includes the culture within a business organization.

<h3><u>Explanation:</u></h3>

The control environment fixes the base and culture of a company. The control environment is the collection of criteria, rules, and formations that present the foundation for leading out internal control over the company. The committee of executives and superior management practice the tone at the top concerning the value of internal control including familiar standards of control.

Management strengthens expectations at the different levels of the organization. The resulting control environment has a pervasive influence on the entire system of internal control.

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-8/3 + 7/2 =?<br><br>por favor ayúdenme.

Triss [41]

Answer:

-5/6

Explanation:

Fist find the common denominators of the two

$- \frac{16}{6} + \frac{21}{6}$

Then you that minus sign in front of the fraction that means its negative

although theres an addition sign where subtracting fractions.

given it's in this order the fraction will be negative

$- \frac{16}{6} + \frac{21}{6} = - \frac{5}{6}$

6 0

3 years ago

Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.

marta [7]

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

4 0

4 years ago

a bond has a face value of $1,000, an annual coupon rate of 7 percent, yield to maturity of 10 percent, and 20 years to maturity

rewona [7]

The bond that has a face value of $1,000 has a duration of 10 years.

A bond is a type of security in the financial world where the issuer (debtor) owes the holder (creditor) a debt and is required, depending on the terms, to repay the bond's principal (i.e., the amount borrowed) at the bond's maturity date as well as interest (referred to as the coupon) over a predetermined period of time. The interest is typically due at regular intervals, such as every six months, once a year, and less frequently at other times. To finance long-term investments or, in the case of government bonds, to finance immediate expenses, the borrower can obtain external funds through the sale of bonds. Both bonds and stocks are considered to be forms of security, but the main distinction between the two is that (capital) stockholders have an equity stake in a company, whereas bondholders have a creditor stake.

To learn more about bond, visit:

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5 0

1 year ago

On December 31, 2020, Ayayai Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Ayay

Fiesta28 [93]

Answer:

Ed Abbey Co. (Ayayai Co.)

Journal Entries:

1. December 31, 2020:

Debit Accounts receivable $296,600

Credit Consulting revenue $296,600

To record consulting services performed on account.

December 31, 2020:

Debit Notes receivable $296,600

Credit Accounts receivable $296,600

To record the acceptance of notes.

December 31, 2021:

Debit Interest receivable $35,592

Credit Interest revenue $35,592

To accrue interest on notes receivable.

December 31, 2022:

Debit Interest receivable $35,592

Credit Interest revenue $35,592

To accrue interest on notes receivable.

Debit Cash $367,784

Credit Notes receivable $296,600

Credit Interest receivable $35,592

To record the full settlement of principal and interests.

Explanation:

a) Data and Analysis:

December 31, 2020: Accounts receivable $296,600 Consulting revenue $296,600

December 31, 2020: Notes receivable $296,600 Accounts receivable $296,600

December 31, 2021:

Interest receivable $35,592 Interest revenue $35,592

December 31, 2022:

Interest receivable $35,592 Interest revenue $35,592

Cash $332,192 Notes receivable $296,600 Interest receivable $35,592

8 0

3 years ago

A manufacturer of triaxial accelerometers wants to have $2,800,000 available 10 years from now so that a new product line can be

melomori [17]

Calculation of equal amount to deposit each year to get the future amount:

It is given that a manufacturer of triaxial accelerometers wants to have $2,800,000 available 10 years from now. So we can say that Future value is $2,800,000. We are also given that the deposit rate is 6% per year.

In order to find out the equal amount to deposit each year we need to calculate the annuity using the future value of annuity formula as follows;

Annuity = Future value of annuity / FV of $1 annuity

FV of $1 annuity (at 6% rate for 10 years) is 13.18079

Hence,

Annuity =2,800,000 / 13.18079 = 212,430.36

Hence , equal amount to deposit each year is $212,430.36

8 0

3 years ago